J-Power Systems Corp. announced that it has entered into an
agreement with an Indian partner Finolex Cables Ltd. to form a joint
venture plant in India to manufacture high voltage power cables. The
agreement was executed by Kiyoshi Shimojima, President, J-Power
Systems and D.K. Chhabria, Managing Director, Finolex Cables at Pune
in Maharashtra State, India on December 13, 2007.
The new company will be equipped with state-of-art production
facility such as VCV (vertical continuous vulcanizer) to produce high
voltage XLPE (cross-linked polyethylene) insulated power cables. Since
such cables are installed in the trunk lines of high voltage power
transmission grids in the urban area, extreme quality and reliability
are required.
India is expected as one of the world´s fast-growing markets for
high voltage power cables to cope with increasing power demand.
J-Power Systems decided to expand its production capacity by
establishing a new plant in such booming India with well-reputed
partner Finolex. The new company will be located near Pune and will
start production in early 2010. It is provisionally called "Finolex
J-Power Systems Private Limited" of which J-Power Systems and Finolex
own 51% and 49% respectively.
Finolex J-Power Systems Private Ltd. (provisional) is expected to
be established in January 2008, located near Pune in the Indian state
of Maharashtra, for manufacture and sale of high voltage power cables,
with paid-in capital 780 million rupees. It is expected to commence
its production in early 2010 with sales approx. 13 billion yen in
2012.
J-Power Systems Corp. is a Japanese cable manufacturer specialized
in high voltage power cables and systems, established in 2001 as an
equally owned joint venture between Hitachi Cable, Ltd. and Sumitomo
Electric Industries, Ltd., with sales approx. 80 billion yen in 2006.
Finolex Cables Limited is an Indian electric wire and cable
manufacturer of various kinds, established in 1956, listed on the
Bombay Stock Exchange and others, with sales approx. 10 billion rupees
(approx. 30 billion yen) in 2006.
