Voltas to invest ₹500 crore
New facility to churn out air-conditioners, cooling products
Voltas Limited, a market leader in residential air-conditioners in India, plans to set up a new manufacturing facility, spread over 65 acres, at Tirupati in Andhra Pradesh, at a cost of ₹500 crore.
This facility would initially manufacture and assemble air-conditioners and related cooling products with a total capacity of more than one million units and is expected to start rolling out products from the second half of 2020, said the company in a statement adding that the OEM base facility for home appliances will provide employment opportunities for locals.
The new facility would be one of the first cooling appliances units in the State of Andhra Pradesh.
The choice of Andhra Pradesh as the destination for the new manufacturing unit was due to the State’s ‘ease of doing business’ and growing focus on ‘Make in India’.
Superior market access
The chosen location provides dual benefits of superior market access and cost effective connectivity via road and port, according to the statement.
Voltas would cater to the south, west and eastern markets through this unit.
Pradeep Bakshi, MD & CEO, Voltas Limited, said, “We are delighted to have laid the ground for the Voltas manufacturing plant here in Tirupati. We are thankful to the Government of Andhra Pradesh and APIIC officials for all the support extended.
“This facility will help us expand our manufacturing capabilities while increasing our reach in the southern market. As a Tata Group company, we have always focussed on creating delightful experiences for our customers and shall continue to serve them even better through this plant.”
Source: Read Full Article