The Rs 150 crore($20 million) new plant of industrial automation major Fuji Electric India will make drives and printed circuit boards (PCB), it was announced on Wednesday.

Part of Japan’s Fuji Electric, the Indian subsidiary’s factory is expected to produce 3,500 drives/month in a single shift and plans are there to make 200,000 printed circuit boards (PCB) annually.

According to Managing Director, Yosuke Ishizaka, the company will hire 250 employees initially.

At the inauguration of their latest factory to manufacture Printed Circuit Boards (PCB) and AC drives (devices to efficiently control, operate electric motors), Japan’s Fuji Electric revealed that they are looking to further invest up to Rs 400 crore or $50 million in India, over the next four years.

Shivaji Waghmare, CEO, Fuji Electric India, said that they look forward to serve larger number of Indian customers with the increased capacity and also are looking at opportunities to export made-in-India hardware to South East Asia, Middle-East, Africa, Bangladesh, Sri Lanka among others.

The company is also looking at generating a total of Rs 1500 crore in annual revenue in India by 2025. For financial year 2022-23, the officials revealed that their firm has already surpassed Rs 1,000 crore.