AXISCADES opens centre in Hyderabad
It has signed a three-year deal with Siemens for providing design-related services
By : DC Correspondent
Update: 2015-09-25 04:17 GMT
Hyderabad: Engineering design services provider AXISCADES on Thursday opened an offshore development centre (ODC) in Hyderabad to cater to Siemens Wind Power. It has signed a three-year deal with Siemens for providing design-related services, though “the time frame is likely to be extended to five years,” said a company official.
It has so far invested $0.5 million at the centre and will be investing $2-$3 million in next three years. The company’s VC Sudhakar Gande said, “We will be offering design support and other associated engineering services to the Denmark OEM for development of wind turbines. We expect to do a business of $25 million in the five-year term.” It will start with 50 engineers and may touch 500 in five years. It is likely to do a business of $100 million this year from $87 million last year.