Siemens Ltd has announced a capital expenditure plan worth Rs.333 crore towards expanding its manufacturing facility in Goa. In addition, Siemens will also invest Rs.186 crore to build a metro train manufacturing facility at Aurangabad in Maharashtra.
In conjunction with the capacity expansion plans of the power transformer factory in Kalwa and the vacuum interrupter factory in Goa, announced by the company in November 2023, the total capex will be in excess of Rs.1,000 crore.
Goa
Siemens Ltd’s Smart Infrastructure Business is expanding its factory footprint in Goa in order to meet the rapidly increasing need for critical components of the industry, infrastructure and power distribution sectors. The total investment will be Rs.333 crore and this will be the largest investment by Siemens in Goa.
The factory will bring to market state-of-the-art gas insulated switchgear (GIS) and clean-air GIS (Blue GIS) technologies. These products will help customers in sectors such as data centers, metro rail, oil & gas, steel, power transmission & distribution to meet their sustainability goals.
Aurangabad
To address demand of growing metro rail networks globally, Siemens Ltd’s Mobility Business is investing Rs.186 crore to build a state-of-the-art metro train manufacturing facility at Aurangabad. This is in addition to the existing bogie manufacturing facility at the same location. This facility will be equipped with the latest technologies, locally procured components and skilled technical workforce, and can adapt to changing customer requirements. Going forward, the facility will play a key role as an export hub for metro turnkey projects.
Strong commitment towards India
According to Sunil Mathur, Managing Director & Chief Executive Officer, Siemens Ltd, “Over the past few years, India has made rapid strides as a preferred destination for manufacturing and business. We believe that with the latest investments, our largest in recent years, we will be able to better address customer requirements with a stronger portfolio and go-to-market. It is further evidence of the strong commitment of Siemens towards India and will help leverage the full potential of the fast-growing Indian market.”
Also Read: Demerger of Siemens’ energy business approved (May 14, 2024)
Featured photograph is a file picture of Siemens’ facility in Goa
