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Ace arranges high tech technology-cum-joint venture between
Vishal and JSJK China |
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Vishal Transformers & Switchgears Pvt. Ltd. (VTSPL),
Meerut, India signed a joint venture (JV) agreement with Jiangsu Jingke Instrument Transformer Co. Ltd. (JSJK), at New
Delhi. The JV agreement was signed by Mr.Sharad Khattar, Director of
VTSPL and Mr.Wang Jinliang,
Chairman, JSJK. The breakthrough comes
after nearly a year and half of untiring efforts. ACE, which operates in close cooperation
with its many partners world over, was assisted in this assignment by Global
Business Links, Shanghai, China.
The JV will result in
the creation of a new company, Vishal-Jinke
Instrument Transformer Co. Pvt. Ltd. (VJIT)., which
in turn will setup a world class manufacturing facility in Bhopal, Madhya
Pradesh, India. The new factory will produce various instrument transformers
in the voltage class 11kV to 440kv, both under the conventional oil cooled as
well as the most modern and latest, gas insulated (GIS) technology.
JSJK will contribute the technology. With this JV, VTSPL is expected to be the
second company in India to manufacture the sophisticated GIS instrument
transformers in India. The manufacturing facilities will be located in a land of
about five to 10 acres and building having approximately 125,000 square feet.
The whole project is estimated to cost Rs.30 crores
or US$6.00 million, including working capital. A major portion of funding comes from
internal accruals and the balance will be raised through debt and private
equity.
The success comes amidst global economic turmoil based on
the premise that domestic demand in India, which is expected to continue to
grow at 7%, especially in the power sector. ACE will play a key role in raising the finances.
The whole project will be implemented in two phases. Land has been identified already and
construction will start by 1st January 2010. The first phase is scheduled to go into
commercial production by 1st April 2011. |
Assist writing
your business plan and presentations for investors, CMA data/ project report
for banks/ Financial Institutions (FIs). Small and start-up companies do not have in-house financial
expertise to periodically check their financial health… |
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