Mumbai, Oct 19: Standby power systems major Luminous Electronics Ltd will invest around Rs 30 crore to set up an Inverter and Uninterrupted Power Systems (UPS) manufacturing unit in Baddi, Himachal Pradesh, which would rollout another four lakh units. "The manufacturing unit will produce an additional four lakh units, increasing the company's total output to 12 lakh units during the fiscal," Luminous Electronics Managing Director Navneet Kapoor told reporters here today.
The investment would be made in three phases. While the first phase is expected to be completed by march next year and the remaining before the end of the year, the commercial production from the plant is expected to begin by late 2004, he said.
Luminous intends to rollout entry-level to high-end inverters and UPS, ranging from 350 va to 5 kv, from the new plant, he said adding, it would mainly for exports to countries like Africa, west Asia, Australia, US and Far East nations.
The company expects the new plant to add 22-25 per cent to its total revenues from exports, compared to 15 per cent contributed during the fiscal 2002-03, he said adding, this would provide another 80 per cent in revenues in the current fiscal.
Luminous is also planning to increase its outlay for research and development from the present Rs 1.5 crore to Rs 2.5 to 3.5 crore in two years time.
Bureau Report