Hyderabad, April 11 (IANS) Japanese conglomerate Toshiba said on Monday it will set up a new electrical equipment production facility for railway systems in Hyderabad.
“India is a growing market that is committed to robust, long-term investment, especially in electricity and transportation infrastructure, and we are strongly committed to the country across our business lines,” said a statement by Toshiba Transmission and Distribution Systems India (TTDI), citing Chairman Katsutoshi Toda.
The facility would manufacture power conversion and train control systems for overall operation management, the statement said.
It would start production in April 2017 and is expected to employ over 100 people by 2020.
“Locating production in India will allow Toshiba and TTDI to better understand and meet local market requirements, improve parts supply and maintenance capabilities, and also win cost benefits that will increase competitiveness, both in India and wider markets,” said the statement.
With the new facility in place, TTDI also expects to meet the demand from the Middle East and African markets.
“We will grow the new manufacturing base with investments that, I hope, will provide employment and contribute to ‘Make in India’ for India’s industrial development,” said Katsutoshi Toda.