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Hitachi forms joint venture with SFO for control systems

EM NEWS BUREAU ,  Saturday, October 08, 2011, 11:47 Hrs  [IST]

Untitled - 6Hitachi 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.
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