Taiwan’s Teco Group to Set up Electric-motor Plant in India

Taipei, Feb. 25, 2011 (CENS)--The Teco Group, Taiwan’s leading electric-machinery conglomerate, will set up a plant to produce large electric motors in Vadodara of Gujarat, an industrial province in western India, says Ted Huang, chairman of the group. The project is expected to be kicked off sometime in the middle of this year.

Also the honorary chairman of the Chinese National Association of Industry and Commerce, Huang says the group will also study the feasibility of expanding into the automotive, shipbuilding and finance sectors in India to tap the nation’s fast economic growth. India still has a huge segment of population whose living standards and consumption volume can be raised substantially, hence being a market with considerable potential.

Teco’s operations in China are bigger than that in Taiwan. Huang believes Teco’s prospective investments in India, once on-track, will very likely exceed that in Taiwan.

Huang says the group will first set up an electric-motor plant in Gujarat province before diversifying into other businesses, and will soon call on the top executives of the Tata Group, the largest Indian automotive conglomerate, to start its expansion.