Schneider Electric Infra board approves expansion project worth Rs138 crore; Stock gains 2.5%

8 Sep 2022 , 09:18 AM

The Board of Directors of Schneider Electric Infrastructure Limited at their meeting held on September 6, 2022, have considered and approved, enhancing the production capacity of Vacuum Interrupters & Vacuum Circuit Breakers by setting up a manufacturing unit in Kolkata, the company informed.

As per the regulatory filing, the existing capacity of 80k MV Vacuum Interrupters is at ~90% capacity utilization. The capacity will be increased by 180k MV Vacuum Interrupters and MV Vacuum Circuit Breakers assembly lines at an outlay of Rs138 crore or 1380 MINR to be incurred over a period of 3 years. The funding will be done through internal accruals and/or borrowings, the company further added.

The rationale behind expansion is to meet the domestic demand as well as increase export to Schneider Electric global entities to accelerate Make in India for Global, aligned with Atmanirbhar Bharat initiative of the Government of India.

At around 9:18 AM, Schneider Electric Infrastructure Ltd is currently trading at Rs146.50 per shhare up by Rs3.55 or 2.48% from its previous closing of Rs142.95 per share on the BSE.

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