The investment will be used to set up six hubs of base -level products. These products will cater to the mid and low end segments which constitute around 70 per cent of the total market in India, Siemens Managing Director Armin Bruck said.
He was talking to reporters after the inauguration of the second phase of the company's Rs 300-crore steam turbine and compressor facility in Maneja village near here. Bruck said the company will think about setting up of a wind energy plant in Gujarat.
Speaking at the function, Gujarat Chief Minister Narendra Modi said the firm has already set up two plants in the state, where it has made the highest investment in India. He suggested the company to set up a Human Resources Development university in the state for which he assured to extend assistance.
"After emergence of Gujarat as an industrial state and attracting investments of lakhs of crores through Vibrant Gujarat Global Investor Summits since 2003, there is a need for an excellent HRD centre or university for meeting the requirements of industries in the state," Modi said.
The inauguration of the second phase of stream turbine and compressor unit has added three production bays to the existing production factory and tripled its output capacity.
The factory will now be able to manufacture stream turbines up to 150 mw and manufacture and package process compressors for the Indian market as well as other emerging markets, Bruck said.
The second phase of the manufacturing facility will provide employment to about 200 people, he said. "With the ability to manufacture stream turbines up to 150 mw locally and compressor manufacturing and testing facilities commencing at this site, we will widen our portfolio in the oil and Gas sector to meet customer requirements," A K Dixit Chief Executive Officer, energy sector Siemens Ltd said.
The company's oil and gas division provides advanced upstream, midstream, downstream products and solutions that are designed to ensure ultimate performance in all mission critical applications, Dixit said.
There is a heavy demand of turbines from the country so the question of their export does not arise, he said. The German firm's Indian arm comprises 19 entities, providing industry and infrastructure solutions with a business volume aggregating about Rs 12,000 crore.