Siemens Ltd has announced an additional investment of $12 million (₹100 crore) in its Kalwa transformer manufacturing facility in Maharashtra. This decision, approved by the company's board on November 26, 2024, will support the expansion of its product portfolio to include large reactors.

This new investment follows the $43 million (₹360 crore) committed in November 2023 to double the Kalwa plant's manufacturing capacity from 15,000 MVA to 30,000 MVA by December 2025. Both investments are financed through internal accruals, with the expansion remaining on schedule.

The move aligns with Siemens' strategy to meet rising global demand for Grid Technology products, driven by energy transition and electrification trends. The expanded portfolio will cater to international markets based on demand.

In its fiscal year ending September 30, 2024, Siemens reported a 14% year-on-year increase in new orders, excluding the significant 9,000HP electric locomotive order received in FY23. For Q4 FY24, the company recorded $740 million (₹6,164 crore) in new orders, a 37% rise from the previous year.

Sunil Mathur, MD & CEO of Siemens Ltd, stated, "With a healthy demand across all businesses and the Government's infrastructure focus, Siemens is well positioned to capitalize on growing market opportunities." The company is also advancing the planned demerger of its Energy business to unlock shareholder value.

Source: tndindia.com