Engineer and construction major L&T inaugurated a new manufacturing facility for switchgear products behind the company's Knowledge City in the city on Thursday. The top management affirmed that switchgear was one of its oldest and growth businesses and hence it was upgrading and internationalizing the manufacturing facilities. L&T chairman and managing director A M Naik inaugurated the facility and said that the company is looking to have more products in its basket.
The company has invested Rs 130 crore in the new facility that will have 800 employees. It is a capacity expansion initiative for L&T's Electrical and Automation (E&A) business. The company will manufacture air circuit breakers (ACBs) and Moulded Case Circuit Breakers (MCCBs) at the new facility that houses modules for circuit breakers along with the shops for press, working, moulding and tooling. A development centre to conduct research, development and engineering for circuit breakers will also be located there.
Naik said that the turnover of the facility will touch Rs 1,000-crore mark in next three to four years, depending on the economic growth in the country. "We have invested about Rs 250 crore in our E&A business last two years," he said. As a part of E&A's expansion drive, the company has enhanced capacities at its Navi Mumbai, Ahmednagar and Mysore facilities. E&A has six manufacturing facilities in the country - Mumbai, Navi Mumbai, Ahmednagar, Coimbatore, Mysore and now Vadodara.
Naik also said that L&T currently has 3,700 employees at its Vadodara facility and is planning to increase the strength to 6,000 in next two to three years.
Source : Times of India