Hitachi Ltd has announced that it
would soon form a joint venture
with SFO Technologies Pvt Ltd to
produce and service control systems
for thermal power plants. The new
company-NeST Control Systems Pvt
Ltd-will be based in Bangalore. SFO's Indian headquarters are
located in Kochi, Kerala.
The new JV will be 70 per cent owned by Hitach India
Pvt Ltd (a wholly-owned subsidiary of Hitachi of Japan)
with the Indian partner holding the remaining 30 per cent.
Hitachi is projecting 2.6 billion yen in sales at the new
company in fiscal 2014.
Last year, Hitachi also formed joint ventures with
Chennai-based BGR Energy Systems Ltd to produce main
plant equipment (boilers and turbine-generators) for
thermal power plants based on supercritical parameters.