SSEL plans to begin Operations at its New Plant worth Rs 300 Crore in Q3

By siliconindia  |  Monday, 25 March 2024, 08:44:45 AM IST

SSEL plans to begin Operations at its New Plant worth Rs 300 Crore in Q3
Shirdi Sai Electricals Ltd (SSEL), the manufacturer of transformers, is aiming to commence activities at its newly established Rs 300 crore facility in Andhra Pradesh by the September quarter, as mentioned by its CMD N Visweswara Reddy. SSEL is in the process of establishing a plant for producing conductors in the YSR District of Andhra Pradesh, with an investment outlay of Rs 300 crore, Reddy stated.
He mentioned that the plant, with an annual capacity of 300 tonnes, is being constructed across 8 acres. Additionally, he stated that the objective is to have the plant operational by the July-September period of 2024-25. Conductors play a crucial role in transmission line projects.
The establishment of the plant is divided into two phases. Trial production is scheduled to commence by the end of this month, with phase 1 aiming to reach its peak capacity of 200 tonnes in the first quarter of the upcoming fiscal year. Reddy additionally mentioned that SSEL is actively engaged in transmission EPC projects, with approximately 50 percent of the conductors' output expected to be utilized by the company's transmission business.
He stated that the surplus will be marketed to both domestic and international entities. Conductors are a scarce commodity, predominantly imported into the nation. Reddy expressed that the establishment of the new unit will enhance the accessibility of domestically produced conductors at competitive rates.
Originally founded in 1994 as a transformer repair firm, the SSEL Group has evolved into India's leading transformer manufacturer over the years. Additionally, the group is actively involved in establishing transmission projects on an EPC model. With a workforce of approximately 5,000 individuals, the SSEL Group achieved a revenue of Rs 2,680 crore in the fiscal year 2022-23. Reddy stated that the group aims to attain a revenue of approximately Rs 5,000 crore in the ongoing fiscal year.

ON THE DECK

siliconindia