J-Power Systems Corporation, a joint venture company of Hitachi Cable Ltd and Sumitomo Electric Industries Ltd of Japan, has entered into an agreement with Finolex Cables Ltd to manufacture high voltage power cables in India. Finolex J-Power Systems Pvt. Ltd will set up a new plant near Pune, Maharashtra, with paid-in capital of Rs 78 crore.
The plant, equipped with state-of-the-art production facility such as VCV (vertical continuous vulcanizer) to produce high voltage cross-linked polyethylene (XLPE) insulated power cables, is expected to commence production in early 2010.