NEC Tech aims to treble India’s revenue in 5 years

MUMBAI: Japan’s NEC Technologies aims to treble its India revenue to Rs 3,600 crore in five years, aiming to sell its information and communications technology solutions to government projects, especially its planned smart cities. The 118-year-old company aims to primarily focus on the logistics, ports and transportation sector to bolster its business in Asia’s third-largest economy, said Takayuki Inaba, MD, NEC Technologies in a recent interview to ET. NEC’s current primary project in India is the Delhi Mumbai Industrial Corridor (DMIC), one of the world’s largest infrastructure projects with an estimated investment of $90 billion, planned as a high-tech industrial zone spread across six Indian states. The project has received a boost from Japan, with an agreement to set up a project development fund with an initial size of Rs 1,000 crore, with half of the contribution coming from Japan. NEC has won the mandate to tag containers with radio-frequency identification (RFID), a technology that uses electromagnetic fields to automatically identify and track tags attached to objects. It will also provide the backend application, visualisation, operations and management of the port covered in the corridor. It has the mandate for RFID tagging 8million containers or 70% of the container traffic in India. It now covers the Nhava Sheva and Mundra ports in western India and will cover Vizag and Krishnapatnam in the south and Paradip in the east, said Dibya Ojha, deputy managing director at NEC Technologies India NEC is responsible for automating the integrated transit management system that helps tracking vehicles and the fare collection system in the bus rapid transport (BRT) systems in Ahmedabad, Surat and Pune.

from The Economic Times https://ift.tt/2KZCKhT
via IFTTT