WEG Industries (India) Pvt. Ltd.

completed

WEG S.A. engineers and manufactures electrical motors and components that are used in power generation and transmission, water distribution and other infrastructure applications, industrial plants, and in home appliances around the world. WEG was founded in 1961 in Jaraguá do Sul, in the southern Brazilian state of Santa Catarina, and has expanded to include production facilities in Argentina, Mexico, Portugal and China. WEG Industries (India) Pvt. Ltd., a wholly owned subsidiary of WEG S.A., is constructing a greenfield plant near Hosur, Tamil Nadu, India, to produce high voltage motors and generators (the Project). Production is expected to be ramped-up by the end of 2011 and in its initial years of operation, the plant is expected to produce an average of about 250 motors and generators per year. Sales will be largely to the Indian market, although there will also be exports from India to neighboring countries. WII will produce motors and generators that are large, technologically sophisticated and typically used in infrastructure (small, electric generation stations and water pumping stations), agriculture (irrigation), as well as mining and industry. WEG is seeking IFC financing for the Project, which is constructing a 33,000 m2 plant on a 141,000 m2 area allotted to the Company by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT). The land allotted for the plant lies within the boundaries of the SIPCOT Industrial Complex, Phase II at Hosur, located approximately 40 kms south of Bangaluru (Bangalore) on National Highway 7 linking Bangalore and Chennai. WII commenced construction of the plant in 2009 and commissioning is expected by end July, 2010.