The new venture called Toshiba JSW has its facility spread over 4 lakh sq metre at a suburb nearly 18 km from Chennai.
Speaking to media persons here on Monday, Toshiba JSW Turbine and Generator Pvt Ltd MD Itaru Ishibashi said the company would manufacture products essential for thermal power plants and by doing so, it would contributed to the development of India’s power system industry.
Toshiba JSW was expected to start operation from January 2011. Deputy Chief Minister M K Stalin laid the foundation at the project site in a ceremony on Monday. Toshiba JSW has already started recruiting staff and plans to hire 500 people by 2014.
According to JSW Energy joint MD and CEO S S Rao the parent company was conscious about its responsibility towards environment.
‘We are keen to promote super-crirical technology. This technology leads to consumption of less coal, less polluting and drastically reduces carbon emission,’ he said.
Further, he said the new joint venture would focus on procurements from the domestic market for parts, materials required for steel turbines and generators which would make a significant contribution to expand the job and business opportunities in India.
Toshiba JSW would invest nearly $160 million in the greenfield plant including critical equipment and essential facilities for the manufacturing process.