Siemens Limited announces Capex of over Rs 1000 crore

Siemens said in a satement that it is expanding its factory footprint in Goa to meet the rapidly increasing need for critical components of the industry.

Autocar Pro News Desk By Autocar Pro News Desk calendar 14 May 2024 Views icon5237 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Siemens Limited announces Capex  of over Rs 1000 crore

Siemens Ltd, a supplier of transmission to transportation sector, announced a capex of over Rs 1000 crore for expanding its factories in India. 

Sunil Mathur, Managing Director and CEO, Siemens Limited, said, “Over the past few years, India has made rapid strides as a preferred destination for manufacturing and business. We believe that with the latest investments, our largest in recent years, we will be able to better address customer requirements with a stronger portfolio and go-to-market.”

Siemens said in a satement that it is expanding its factory footprint in Goa to meet the rapidly increasing need for critical components of the industry, infrastructure and power distribution sectors. The total investment will be Rs 333 crore, making it the largest investment by the company in the state. 

The factory will bring to market state-of-the-art Gas Insulated Switchgear and Clean Air GIS (Blue GIS) technologies. These products will help customers in sectors such as data centers, metro rail, oil & gas, steel, transmission and distribution, meet their sustainability goals.

Further, to address the demand of growing Metro Rail networks globally, the Mobility Business is investing Rs 186 crore to build a state-of-the-art Metro train manufacturing facility at Aurangabad.

To address the growing demand for electric vehicle (EV) charging infrastructure in India, Siemens has acquired Mumbai-based Mass-Tech Controls' EV division to address the growing demand for electric vehicles. 

The division is engaged in the design, engineering and manufacturing of a wide range of alternate current chargers, and 30 to 300 kW capacity direct current chargers for various end applications for EVs. The addition of products helped the company add to its portfolio of e-mobility solutions. 

 

Tags: Siemens
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