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Follow on Google News | Hitachi and SFO Technologies agree to form Indian Joint Venture CompanyHitachi, Ltd. and SFO Technologies Pvt. Ltd., a NeST Group Company today announced that they have agreed to establish a joint venture in the field of advanced control systems for thermal power plants.
By: Buzz Communications Based on this agreement, Hitachi and SFO Technologies will promote to expand their control systems businesses in India. This will be achieved by converging the strengths of each company—Hitachi’ The market for information and control systems for social infrastructure is expected to grow in step with economic development in India. Power is a critical infrastructure on which socio-economic development of the country depends. India is expected to add 200 GW in the next 10 years. Major portion of the investment would be in thermal power plants especially in large sized supercritical units. Hitachi has made significant investments in India, including BGR Energy Systems Limited, to manufacture super-critical turbines, generators and boilers in Chennai. Against this backdrop, Hitachi and SFO Technologies will form a Joint Venture to engineer, manufacture, commission and after-service advanced control systems for thermal power plants. This Joint Venture is aimed to capitalize these opportunities and talent that Indian market will provide. Hitachi has been using SFO Technologies’ Hitachi is focusing on accelerating the global development of the Social Innovation Business, which is made up of social infrastructure supported by highly reliable and highly efficient information and telecommunications technology. Hitachi has identified India as a fifth key management area for further business expansion in India. Hitachi has decided to establish this Hitachi NeST Control Systems Pvt. Ltd., a joint venture with SFO Technologies, to build up control system engineering capability, starting with thermal power control systems. SFO Technologies also recognizes energy as an important growing market segment in India and is focused on enlarging its portfolio of products and services for this sector. Through this joint venture with Hitachi, SFO Technologies hopes to strengthen its control and automation offerings to meet the growing demand in India. ■Outline of joint venture company Company Name Hitachi NeST Control Systems Pvt. Ltd. Address Business areas Information and Control Systems for Thermal Power Plant Year/month of establishment October, 2011 (scheduled) Capital Equity (%) Hitachi India Pvt. Ltd.70%, SFO Technologies Pvt. Ltd.30% *: At the exchange rate of 1.71yen per India Rupee. About Hitachi, Ltd. Hitachi, Ltd., (NYSE- HIT/TSE-6501) About SFO Technologies Pvt. Ltd. SFO, the flagship company of NeST Group is one of the leading engineering, software and manufacturing services company headquartered in Kochi with operations at Kochi, Trivandrum and Bangalore with over 4,000 employees. SFO is the ELICINA award winner as the largest exporter and the best R&D center in India. SFO provides its products and services to its worldwide customers in healthcare, industrial, energy, communication and transportation sector. SFO has been actively engaged for the past 10+ years in providing hardware and software solutions to process control industry with special focus in power generation, transmission and distribution. For more information on SFO and NeST Group, please visit the company website at http://www.nestgroup.net # # # Based on resident knowledge and experiences, Buzz Communications develop a market by market strategy to deliver locally relevant messages to news outlets. End
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