J-Power Systems has entered into an agreement with an Indian partner Finolex Cables to form a joint venture plant in India to manufacture high-voltage power cables.
The new company will be equipped with a production facility to produce high-voltage cross-linked polyethylene insulated power cables. Since such cables are installed in the trunk lines of high-voltage power transmission grids in urban areas, extreme quality and reliability are required, the company said.
J-Power Systems has decided to expand its production capacity by establishing a new plant in India, as this is expected to become one of the world’s fastest growing markets for high-voltage power cables.
The new company will be located near Pune and will start production in early 2010. The joint venture company will provisionally be called Finolex J-Power Systems Private Limited. J-Power Systems and Finolex will own 51% and 49%, respectively of the joint entity.