Thermax Likely To Re-Enter Wind Turbine Sector

In the area of water purification, too, the company is planning a re-entry in both commercial and domestic segments. Thermax is entering into a technical and financial collaboration with Culligan of the US for a joint venture, in which the US company is expected to pick a 50 per cent equity stake. The total cost of the project has been estimated at Rs 10 crore.

An agreement will be signed between the two companies by mid-September when a top level delegation of Culligan is expect

ed to tour Pune. The company, which has a ion exchange resin unit in Khopoli near Mumbai, is hopeful of making a strong dent in this highly competitive market.

 

Thermax was involved in the manufacture of wind turbines in 1982 only to get out of the business in 1984.

It was a wrong judgement from our part to get out of the wind turbine business, Abhay Nalawade, managing director of Thermax, said.

That time we thought it was a business dependent on subsidies and therefore we decided to quit, Nalawade said.

Now that several corporates are investing in wind turbines, mainly to claim 100 per cent depreciation and other benefits, Thermax is now having a second look at this business, he added.