Polycab Wires and
Cables in JV with Nexans, France has decided to invest Euro 60 million (approx
Rs.400 crore) to set up a new manufacturing facility near Baroda in Gujarat.
Polycab wires signed a
50:50 JV agreement with Nexans on 03 March 2009. The proposed facility intends
to manufacture extra-high voltage cables (EHV) and special cables for
shipbuilding, material handling, railways, wind power industries.
The construction work
on the cable production unit is expected to begin shortly and is likely to
commence operations in 24 months.