German engineering group Siemens plans to invest INR16bn ($354M) in India over the next three years, with a large portion of the investment going into wind turbines.
About INR5bn ($110M) will be used to set up a wind turbine manufacturing facility The company is looking at sites in Gujurat and Tamil Nadu for its turbine plant. Siemens plans to sell the wind turbines on the local market, the first of which should be delivered in 2012.
Funds have also been earmarked for research, signalling products, metal technologies and health care solutions. It will establish six hubs in India, responsible for the design, development and production of the turbines.
It will create 8000 jobs in India by 2012, taking the workforce to 25000.