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

19 Oct 2022 , 04:00 PM

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 Rs.230 crore. The proposed expansion would increase the capacity of Low Tension Motors (LT Motors) upto 19.92 lakhs nos. per annum, from the existing capacity of 9.93 lakhs nos. per annum. The current capacity utilisation is around 80%. 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. Powered by Capital Market – Live News