Bajaj Electricals and Appliances, a part of the Bajaj Group, will invest Rs 30 crore to set up a greenfield facility in Nashik, Maharashtra, to manufacture Compact Flourescent Lamp.
The company had last year acquired Nashik-based Starlite Industries which produces 10 million CFL a year. “We want to take our CFL production to 40 million by 2010. The new facility will give a boost to our growth roadmap,” Mr R. Ramakrishnan, Executive Director, Bajaj Electricals Ltd, toldBusiness Line.
Bajaj Electricals, which had posted a turnover of Rs 1,404 crore in 2007-08, said it is eyeing a turnover of Rs 1,700 crore by the end of this fiscal.