This joint venture, called Jiangsu Havells Sylvania Lighting Co, will firstly invest $50 million, with the likelihood of raising this to $100 million over three years, Havells India said in a dogmatic filing.
Havells Joint Managing Director Anil Gupta told to reporters that “The initial investment would be USD 50 million, which after around three years will go up as high as USD 100 million.”
Havells, which currently exports products to China, was looking for a joint venture partner in China to enhance sales and set up a manufacturing facility. It has a major existence in the international lighting industry with its auxiliary SLI Sylvania of Germany.
Gupta said that “Though we had presence in China in R&D space, the need for a manufacturing base was always there.”
In India the company has eight amenities located in Rajasthan, Uttarakhand, Uttar Pradesh, Himachal Pradesh and Haryana.