Trending Now
- “If the government truly cared about farmers, it should have convened an all-party meeting. The TVK government is adopting a new technique to deal with TN’s issues.” – Udhayanidhi Stalin
- “There is no problem with changing the names of schemes; what matters is that the schemes continue. Schemes that people value should continue regardless of which party is in power.” – DMDK MLA Premalatha Vijayakant (in the Assembly)
- The Chennai High Court has issued a strong directive to the police to immediately register an FIR if customers are charged extra for liquor.
- “The CM keeps warning at every meeting that no one who accepts bribes can remain in the Cabinet. Not a single MLA or minister has taken even one rupee as a bribe in any department.” – Minister Aadhav Arjuna
- “If the Tamil Nadu CM faces any humiliation while visiting Karnataka, the entire state of TN will rise in protest.” – Premalatha
- “Udhayanidhi is destroying the movement founded by Anna with obscene language. Remarks that demean women are unacceptable.” – Minister Aadhav
- “Crippling the opposition is condemnable. Expressing opinions is a democratic right. Democracy is upheld by responding to opinions with counter-opinions, not by making arrests. Differences of opinion should not be dealt with through arrests.” – Premalatha
- “Avoiding the imprisonment of Udhayanidhi would enhance the ruling party’s credibility.” – Thirumavalavan
- “Why is CM Vijay showing more urgency regarding the arrest operation than he did regarding the Cauvery river water issue?” – Seeman
Coimbatore
Salzer building “one-of-its-kind Fully Integrated” Smart Meter manufacturing facility in India to meet soaring demand
February 22, 2024
Salzer Electronics Limited (BSE: 517059, NSE: SALZERELEC), a capital goods engineering Company offering total and customised electrical solutions, is happy to announce that it is establishing a Smart Meter manufacturing business in Coimbatore.
The cutting-edge smart meter factory is also backward integrated with Salzer’s existing Coimbatore factories, which have been manufacturing crucial electrical components for Smart Meters. This provides Salzer with a distinct strategic edge in terms of cost control, supply chain management, and Smart Meter quality assurance, while also demonstrating the company’s commitment to addressing India’s growing need for innovative energy management solutions.
This New smart meter manufacturing plant will have an annual production capacity of 4 million smart energy meters, which will be increased to 10 million smart energy meters in Phase Two. This facility will provide employment to approximately 1000 people at its full capacity.
India is seeing exceptional demand for Smart Energy Metres, which is projected at 250 million units initially, with a potential increase to 350 million metres during the next three years under the Revamped Distribution Sector Scheme (RDSS) launched by Government of India. As per Astute Analytica, India Smart Meter market is likely to reach $3.27bn by 2031 growing at a CAGR of 34.57% in the period 2023 to 2031. Salzer is well-positioned to help meet this need by modernising and improving the country’s energy infrastructure.
Management Comment:
Commenting on this development, Mr. Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics Ltd said:
“I am pleased to announce the building of our new Smart Meter manufacturing facility. This investment underscores our commitment to innovation, and bringing in new products as and when opportunity arises.
We take pride in saying that Salzer will be contributing its part to the creation of a smart interconnected energy grid in India. We have already received BIS certification for our Single Phase Smart Energy meter. The first batch of smart meters is expected to roll out in Q1 FY25, from the new facility.
This Investment will provide the company with a competitive edge in the market, protect its intellectual property, and generate substantial revenue, thereby contributing to the Company’s future success.
I would like to thank the entire Salzer team and all our stakeholders for their hard work and support, which enables the Company to keep moving forward.”
