Bajaj Electricals to set up 2nd water heater plant.

Bajaj Electricals Limited (BEL), a consumer electrical equipment manufacturing company of the Rs. 38,000-crore Bajaj Group, is putting up its second water heater plant at Nashik with an estimated investment of Rs. 35 crore, said executive director PS Tandon.

'The proposed plant will have a capacity to churn out 350,000 units of water heaters per year in a single shift. We expect to have this functional by the end of December,' he told mediapersons.

The company has finalised land near Mumbai to establish an R&D centre for small appliances, LED lightning, among others. 'Broadly, the investment for the R&D centre should be anywhere between Rs. 50 crore and Rs. 60 crore. The centre will be up and running within a year-and-a-half,' he said, adding the company had forayed into the non-electrical segment with products like pressure cookers and gas stoves one-and-a-half years ago, and was expecting this business to generate revenues of Rs. 80-100 crore this fiscal.

BS