Spain's Gamesa plans major investment in India
Spain's Gamesa, one of the world's top wind turbine groups, said Wednesday it plans to invest 60 million euros ($83 million) in new plants in India, which accounts for 8.0 percent of its worldwide sales.
Gamesa "continues to expand its presence in fast-growing markets, this time in India, where the company has announced that it will invest more than 60 million euros through 2012 to build new manufacturing plants," it said.
The group plans to open a turbine blade factory in northwestern Gujarat state this year, with initial production capacity of 300 MW.
"Gamesa intends to open additional manufacturing plants in India in coming years to produce nacelles," or turbine housings, and towers via joint ventures at several locations in Gujarat and in the southeastern state of Tamil Nadu.
The company will recruit 100 engineers in 2011 as it conducts research and development activities in India, "though it may double that number in 2012," after expanding its workforce in India nearly fivefold to more than 330 last year.
It described India as a "strategic market, now accounting for 8.0 percent of company sales" and projects average annual sales growth of 166 percent in the country by 2013 with manufacturing capacity forecast to exceed 800 MW.
Gamesa, whose profits slumped last year due to the global economic crisis, currently has 30 manufacturing facilities in Europe, the United States, China and India and an international workforce of more than 6,300.
The group in October announced three new contracts with Chinese firms.
© 2011 AFP