Business
SSEL aims to make new Rs 300 crore plant operational in July-September quarter: CMD Reddy – Times of India
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NEW DELHI: Transformers maker Shirdi Sai Electricals Ltd (SSEL) looks to start operations at its new Rs 300 crore unit in Andhra Pradesh by the September quarter, its CMD N Visweswara Reddy said. SSEL is setting up a facility to manufacture conductors in the YSR District of Andhra Pradesh at an investment cost of Rs 300 crore, Reddy told PTI.
The plant having an annual capacity of 300 tonnes is being set up over 8 acres, he said, adding that the plan is to make the plant operational by the July-September period of 2024-25.
Conductors are a key element of a transmission line project.
The plant is being set up in two phases. The trial production will begin by the end of this month, while the peak capacity of phase 1 (200 tonnes) will be achieved in the first quarter of the next fiscal year.
Reddy further said SSEL is also into transmission EPC projects and around 50 per cent of the conductors’ production will be consumed by the company’s transmission business.
The remaining will be sold in the open market to both domestic and international players, he said.
Conductors are a rare product and are mostly imported into the country. The new unit will help improve the availability of domestically manufactured conductors at competitive prices, he said.
Established in 1994 as a transformer repairing company, SSEL Group has over the years grown to become India’s largest transformer manufacturing company. It is also into setting up transmission projects on an EPC basis. SSEL Group employs around 5,000 people and had a revenue of Rs 2,680 crore in FY 2022-23.
The group is targeting a revenue of around Rs 5,000 crore in the current fiscal year, Reddy added.
The plant having an annual capacity of 300 tonnes is being set up over 8 acres, he said, adding that the plan is to make the plant operational by the July-September period of 2024-25.
Conductors are a key element of a transmission line project.
The plant is being set up in two phases. The trial production will begin by the end of this month, while the peak capacity of phase 1 (200 tonnes) will be achieved in the first quarter of the next fiscal year.
Reddy further said SSEL is also into transmission EPC projects and around 50 per cent of the conductors’ production will be consumed by the company’s transmission business.
The remaining will be sold in the open market to both domestic and international players, he said.
Conductors are a rare product and are mostly imported into the country. The new unit will help improve the availability of domestically manufactured conductors at competitive prices, he said.
Established in 1994 as a transformer repairing company, SSEL Group has over the years grown to become India’s largest transformer manufacturing company. It is also into setting up transmission projects on an EPC basis. SSEL Group employs around 5,000 people and had a revenue of Rs 2,680 crore in FY 2022-23.
The group is targeting a revenue of around Rs 5,000 crore in the current fiscal year, Reddy added.
