Areva T&D targets to double turnover; to invest Rs 700 crore

Power equipment maker Areva T&D (India), which is investing Rs 700 crore to put up three greenfield manufacturing plants, is eyeing to double its sales turnover in the next two to three years. Indian subsidiary of the French major, had recorded a sales turnover of Rs 2,000 crore in the last year, up by 24.9 per cent over 2006. It has eight existing manufacturing facilities in India. Its greenfield projects are coming up at Hosur, Baroda and Padappai. The company has upwardly revised its investment plans in these plants to Rs 700 crore from Rs 500 crore earlier.

The transmission and distribution business in India will continue to grow since modernisation of grids & interconnections and new generation capacity are taking place in the country. Transmission contributes 60 per cent of Areva T&D’s total business.