Pune-based wind energy major, Suzlon Energy Ltd's (SEL) largest comprehensive global manufacturing facility will be commissioned soon in the northern Chinese city of Tianjin, a senior company official said here.
The new facility with an investment of 60 million US dollars in Tianjin's Hi-Tech Industrial Park will manufacture wind energy turbine generator (WTG) and integrate major WTG components like rotor blades, generators, nacelles and control panels.
"We expect to hold a grand opening of our factory in Tianjin before the Chinese Lunar New Year," Chief Representative Officer of SEL in Beijing, Paulo Fernando Soares told PTI here.
The Lunar New Year falls on February 18 this year.
The Suzlon facility in Tianjin which at 250,000 square metres will be Suzlon's largest manufacturing facility to date and one of the largest investment made by an Indian company in China.
"It is a significant move by an Indian company in China," he said.
"We are doing fine in China," he said pointing out that Suzlon has already sold 25 turbines in China even before the company's state-of-the-art facility is commissioned.
Out of the 25 turbines, six of them have already been commissioned in north China's Inner Mongolia Autonomous Region, he said. "We did not want to wait till our own facility was set up. So we rented space and manufactured turbines and other related equipments in China," he said.
Wind power is becoming a very visible sector in China. China's wind power market more than doubled from 200 MW in 2005 to 500 MW in 2006, he said, adding that in 2007 the capacity of the sector could reach up to 1,500 MW.
Asked why Suzlon chose Tianjin as its base in China, Soares said the local government offered excellent facilities and polices to set up operations in the Hi-Tech Industrial Park.
Moreover, Tianjin is close to Beijing, has a big port also close to the wind energy producing regions, he said.
The plant in Tianjin will serve only the Chinese market as per current plans, he said noting that the Chinese wind energy market is expected to boom with government support.
"The wind power market in China has been very active and our decision to set up a state-of-the-art manufacturing facility in China is timely," he said.
"We are confident of becoming a major player in the wind energy sector, especially since the Chinese government is going all out to encourage renewable sources of energy," he said.
China is already the world's sixth largest wind energy market in the world after Germany, Spain, United States, India and Denmark.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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