Board of CG Power approves capex of Rs 230 for increasing capacity of LT motors

22 Oct 2022 , 01:34 AM

The Board of CG Power Industrial Solutions at its meeting held on 19 October 2022 has approved a proposal to expand the manufacturing capacity of Motors at its plants at Ahmednagar and Goa at a capital outlay of Rs230 crore The proposed expansion would increase the capacity of Low Tension Motors LT Motors upto 1992 lakhs nos per annum from the existing capacity of 993 lakhs nos per annum The current capacity utilisation is around 80Percentage The expansion project will be implemented in 2 phases over a period of 4 years and will be funded through internal accruals The expansion is proposed considering the expected increase in future demand for AC motors