Shriram Leitwind to focus on exports this fiscalApril 25th, 2009 - 5:17 pm ICT by IANS
Chennai, April 25 (IANS) Windmill marketing company Shriram Leitwind Ltd is hoping to export nearly 50 percent of its 1.5-MW wind turbine generators produced this fiscal, a top official said.
Shriram Leitwind, based here, is a 51:49 joint venture between engineering and construction major Shriram EPC and Italian group Leitner.
“We will sell around 80 units of 1.5 MW machines this year of which exports will be around 40 units, mainly to Europe,” T. Shivaraman, managing director and chief executive of Shriram EPC, told IANS.
The company is into marketing, erection, commission, operation and maintenance of 250 KW and 1.5 MW windmills made by associate company Leitner Shriram Manufacturing Ltd - another joint venture between Shriram EPC and Leitner.
On 250-KW wind turbine generators, he said: “Last year we sold around 60 units and we hope to sell similar numbers this fiscal. Though small, the market for such machines - around 350 units per annum - still exists in India.”
The marketing and manufacturing ventures are expected to post a joint turnover of Rs.600 crore this year.
“Demand depends on the performance of corporates. If their profits are high, then windmill sales will increase to save on tax outgo,” Shivaraman said.
“Last fiscal, the windmill industry experienced a slowdown as around 1,500 MW capacity was added as against around 1,700 MW installed in 2007-09,” he added.
According to Shivaraman, the current fiscal is the key to recover from the slowdown.
“The order book position (of Shriram EPC) stands at Rs.2,000 crore which will keep us busy till 2011. Another Rs.300 crore worth of orders are under discussion,” he said.
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Tags: annum, associate company, chennai, chief executive, corporates, erection, europe, India, italian group, joint venture, kw, managing director, marketing company, profits, rs 2, slowdown, turnover, wind turbine generators, windmill