Leading Japanese electronics major Mitsubishi Electric Corporation on Friday opened its third Indian plant at Bidadi near Bengaluru to make transportation systems for metro rail and trains.

"The $8 million factory will assemble electrical propulsion equipment for rolling stock to expand our transportation systems business in the Indian market and post $170 million (Rs.1,136 crore) revenue by fiscal 2020," Mitsubishi Electric India Ltd Managing Director Makoto Kitai said on the occasion.

The Indian subsidiary's other two plants are at Gurgaon for automotive equipment and Pune for automation products.

The Bidadi plant, 30 km from Bengaluru, will produce traction inverters, motors and other electrical equipment for rolling stock in metro systems across the country.

"By setting up this factory here, we have demonstrated our commitment to invest, foster innovation, enhance skill development, protect intellectual property and build best-in-class manufacturing infrastructure in India, which is our 'Make in India' initiative," said Kitai.

The global firm has been providing Indian customers with electrical products for locomotives since the 1960s and expanded into rolling stock equipment for metro projects since 2000, accounting for 65% traction systems of metro rail networks.