00:23What is your priority, why you are choosing Andhra Pradesh, how much you are investing in Andhra Pradesh?
00:30Yeah, so this is a big announcement for us today in terms of announcing the first electrical
00:35steel investment in India. And Andhra Pradesh, it's a combination of things. First, our partner
00:41and customer, Shirdi Sai, is there. The local government has been extremely accommodative
00:47in terms of providing the right incentive packages for us to make that commitment. There's
00:54a good ecosystem for us to do business there. With a Japanese business and transferring our
01:00technology, there's all good ways for our Japanese expats who will be here temporarily to help
01:07with the assistance of that technology build. Ecosystem for them to kind of live and work.
01:13And then it's also a region that is really progressive on energy efficiency. And so it's a very good
01:21match in terms of what our material does in terms of driving efficiency across the energy
01:26sector and the grid.
01:28Why you chose particularly Andhra Pradesh and why you chose for this electrical steel plant
01:33particularly in Tirupati area?
01:35Well, it's a combination kind of all those things that I mentioned, you know, first, really
01:40good, I say mindset around energy efficiency. And so that's a good ecosystem for us to sell
01:45material into. Our long term customer and now partner, Shirdi Sai, has a big presence in
01:52the area. And then there's also, I think, 40 some odd, you know, Japanese companies doing
01:58business down there as well. So what expats we do have there will have, you know, a community
02:03of which to kind of work into, you know, doing business and living and working in India.
02:08So what is your product? What is your production of the capacity?
02:13So the first phase of our investment will be able to produce around 30,000 tons per year.
02:19And today we're already selling, you know, importing material from Japan into India of around,
02:25you know, 22,000, 25,000 tons per year. So this will be able to offset all of that importation.
02:32But we all just see this market growing as well as India is going through, you know,
02:37its economic transition. This is a great time for us to be investing, you know, locally here
02:41to localize that production for the benefits of our customers, which will also have the
02:46benefits of more efficiency in the supply chain as they don't have to import material.
02:52What is your present in the means of first phase investment?
02:56First phase investment is around $77 to $80 million. And based on where we see growth,
03:02we see, you know, shortly thereafter a second phase of investment that approximately doubles
03:07the investment to around $150 to $160 million and doubles the capacity as well.
03:13How many jobs you are creating to the local people?
03:15So the first phase is around $200. And then as we do phase two, there would total employment
03:21for, you know, MetGlass India, Protero MetGlass India would be around, you know, 500 employees.
03:26So are you...
03:27And these will be, you know, sophisticated, you know, jobs as well.
03:30Right. Are you training them or you're taking the employment from the other side?
03:35So it'll be a combination. You will try to, you know, pull, I'll call it strong engineering talent,
03:41you know, from the marketplace who people who have good knowledge in terms of materials,
03:46in terms of metals and melting. And at the same time, we'll be actually taking some of those employees
03:52and letting them go to Japan to see the production and really learn the process.
03:57And similarly, as we build up the direct, you know, labor on the floor, providing that training program
04:03to make sure that we can really get up to speed as quick as possible
04:07and making sure we're training people and safety and quality and obviously, you know,
04:12the efficiency that we need to have to do that.
04:14When you are going to start the production, you already started the work in Tirupati.
04:18And when you are going to start the production, first-best production?
04:21So our expectation is we'll start production by the end of this calendar year
04:24so that we can start getting material into the market.
04:27So where you are getting the material, basic material like coal, iron ore, and other LI core material?
04:34So no coal, right? This will all be, you know, kind of an electrical furnace standpoint.
04:40But we'll get the iron material from the local market and local, you know, steel producers here in India as
04:46well.
04:46So it's going to be an integrated supply chain within India.
04:49Thank you. Thank you so much.
04:50So you know, when you are spending, you know, you can even have to drive the production if you are
04:55doing in India,
04:56and you can have to drive the production of India in India,
04:58you can drive the production of India and India.
05:00Now you can drive the production in India under the largest industrial industry,
05:03and you can get the production of India just because you can drive the production of India.
05:06So, I was in the general, I was out of postdoctoral studio.
05:08Thank you so much.
05:09This is our channel from的話 management.
05:10So, look for those at the end for the end of this year.
05:17I'm Surgid Seng.
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