Electrical equipment manufacturer Indo Asian Fusegear Ltd is in talks with state electricity boards, corporations and utilities in north India.
Sees Rs 200 crore revenue from the business in 5 years
NEW DELHI: Electrical equipment manufacturer Indo Asian Fusegear Ltd (IAFL) is in talks with state electricity boards, corporations and utilities in north India for taking up distribution network on franchise basis.
The company had set up a new entity, Indo Asian Power Distribution and Infrastructure, with an investment of Rs 25 crore for its power distribution business and expects Rs 200 crore revenue in the first five years.
“We have already submitted tenders in Rajasthan, Uttar Pradesh, Madhya Pradesh and Harayana which are expected to be finalised in the next 2-3 months,” IAFL CMD V P Mahendru said.
It is also targeting Uttrakhand and Punjab in the first phase, and plans to extend its reach to central India after that, eventually covering the entire country. “The investment of Rs 25 crore in the first phase would be through internal accruals and we expect to earn Rs 200 crore in five years through operations in north India alone,” Mahendru said.
IAFL would strive to improve power distribution and cut losses by introducing efficient systems and processes such as spot billing, remote meter sensing and regular energy audits.
The company would leverage its existing relations with state distribution companies and take over a few areas from them so that net revenue realisation increases.
“We seek to improve the existing system by introducing high-voltage system by making own investment or by getting funds from discom under the Accelerated Power Development Reform Programme and other schemes as per condition of the tender,” he said, adding, the move would help “reduce technical and commercial loss and share the benefit with discom.”
The company will also have a consultancy and construction wing to carry out survey and take up construction work on turnkey basis and will initially hire over 100 engineers.
Indo Asian Fusegear manufactures CF lamps, MCBs, wires, junction boxes, and power distribution boards and has been working closely with state distribution companies and BSES, Delhi to propagate the use of CF lamps.
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