Thermax plans to invest Rs 500 crore in new plant

Thermax, a Pune-based boiler and absorption chiller manufacturer has decided to set up a new Rs 500-crore manufacturing plant for large boilers of capacity 100 MW to 800 MW for power plants.

"We have signed a technical agreement with US-based Babcock & Wilcox Co for making sub-critical boilers in India of minimum size that would produce 100 MW and up to 800 MW of power from each unit," Thermax Managing Dirctor & CEO M S Unnikrishnan told PTI.

He said, the company has not yet finalised the location of the plant, but indicated it would be either in the west or north India.

"We are getting proposals from various state governments and we are finalising the location," he said.

The new plant would be run by Thermax and not by its joint venture subsidiary in India with the same US collaborator, he added.

In the first phase, the company would have a capacity to produce sub-critical boilers with total capacity of 1,500 MW per annum, which would entail an investment of Rs 300 crore.

"In the next phase we will scale up the capacity of the boilers of equivalent to 3,000 MW with an additional investment of Rs 200 crore," Unnikrishnan said.