Fuji Electric India, a leader in industrial automation and provider of energy efficient solutions, has inaugurated a state-of-the-art factory in Tamil Nadu, set up at an investment of Rs 150 crore, a top official said.

The factory, spread across 65,000 sq ft in Perungudi along the Old Mahabalipuram Road in the city, would produce drives and other components required for industries engaged in cement production, as well as heating, ventilation and air-conditioning, among others.

Fuji Electric India produces automation products for various applications. The company is a leading supplier of drives and automation products in both domestic and overseas markets.

"This new facility will remain a testimony to our relentless efforts to improve all aspects of our operations and to maintain our status as one of the best in the industry," CEO Shivaji Waghmare said on Wednesday.

The company said it would hire over 250 employees for the new factory.

"The investment put into setting up this modern manufacturing plant in India will fulfil our vision to manufacture automation products, help us meet customers' demands and also propel us into becoming a Rs 1,500 crore company by the end of 2024," Fuji Electric India managing director Yosuke Ishizaka said.

"Initially, we will be recruiting more than 250 employees for the new factory. With all the factors working to our advantage, we are expected to grow by over 25 per cent in the coming years," he said.

Built at a cost of Rs 150 crore, the factory would produce 3,500 drives per month in a single shift. The facility is fully automated and has the capacity to produce a range of products on a scale of 0.4kW to 75kW.

Fuji Electric India director Kentaroh Yamaguchi said the new facility was a product of extensive interaction and participation of executives.

"Some of the critical equipment has been imported from Japan to match manufacturing processes between Fuji Electric India and Fuji Electric." Yamaguchi said.