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Suzlon plan factory for offshore equipment manufacture
1 April 2008
India's Suzlon, its subsidiary Repower, and Portuguese industrial group Martifer, which currently also holds a 25% stake in Repower, are hoping to establish an industrial facility in Portugal to produce equipment for the offshore wind market. The partners hope the joint venture, planned in anticipation of a government tender for offshore wind, will become "Portugal's biggest exporter to Europe and North America," says Martifer president Carlos Martins. He is reluctant to reveal further details. Martifer is due to sell its Repower stake to Suzlon by June 2009 for around EUR 270 million.
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