Leading producer of electrical and telecommunications cables Finolex Cables stated that it would invest Rs 200 crore in capital expenditures to increase its manufacturing capacity this fiscal year.
The Rs 200 crore in capital expenditures, according to the Pune-based company, would be used over the next months to improve the manufacturing capabilities at its Urse factory close to Pune. The plant offers services to the automobile, optical fibre, and solar power industries.
The Urse factory uses controlled electron e-beam technology to generate solar cables by deploying radiation technology equipment. As a result, the business will be able to make premium solar cables and improve the solar power sector.
The company also makes lighting goods, electrical wiring accessories, switchgear, fans, and water heaters in addition to electrical and telecom cables.
