Aiming to tap the growing demand for LED lights, electrical products maker EON Electric Ltd has invested around Rs. 100 crore on expansion and upgradation of its manufacturing facilities in Haridwar, Uttarakhand.
The company’s Chairman and Managing Director, Ved Prakash Mahendru, told Projectmonitor that investment of another Rs. 50 crore was in the pipeline. The objective behind the investment, he said, was to add more variety of efficient LED lights with automatic controls and at the same time make LED lights affordable for everyone.
At present, the company’s manufacturing facilities in Haridwar have a production capacity of over one million LED lights annually.
“Of course, the plant layout and these production capacities are so well organised and planned that the same can accommodate additional production of 100 per cent with small additions of equipment,” Mahendru said.
“The additional investments in production line are designed to enhance and expand the variety of additional LED lights such as down lighters, panel lights, floodlights etc. apart from other professional lights required to illuminate shopping malls, hotels and hospitals, monuments etc,” he added.
The expansion and upgradation initiatives are part of EON Electric’s plans to fast track growth. Following the investment, the company hopes to produce up to Rs. 1,000 crore of large variety of LED lights in the next two to three years. In addition to catering to the demands of the growing Indian market, it will look at exporting to neighboring countries as well as countries in the Middle East and Africa.
In the last three years, EON Electric has emerged as a leading producer of LED indoor (bulbs, tubes, roof lights and down lighters) and outdoor lights (floodlights, streetlights and garden lights).
“LED lights are basically driven by electronics and as such, all LED lights have tremendous potential for growth and for creating variations through research and development. For example, the streetlights can incorporate automatic dimming facilities so as to dim these lights as much as is necessary depending upon the density of the traffic on the road thereby saving electrical energy. For the same reason, the LEDs can also incorporate automatic switching ‘On’ or ‘Off’ triggered by sensors installed in the LED lights which are triggered by sunset or sunrise or by the movement of human beings around the light,” Mahendru said, adding the company planned to expand its R&D facilities in the NCR.
EON Electric’s R&D facilities and testing laboratory are already equipped to conduct various tests as per Indian as well international standards.
Demand for LED lights has been growing rapidly across the globe, including in India, due to several factors. As compared to conventional lights, LED lights consume significantly less power and have a much higher life span with low maintenance cost. Also, they are eco friendly.
EON Electric had hived off its switchgear and CFL manufacturing business to a multinational company to focus on LED lights and lithium ion batteries.