Comments
Air-conditioner major Blue Star Ltd plans to invest nearly Rs 150 crore in the next fiscal for setting up a manufacturing facility in South India.
According to B. Thiagarajan, Executive Director & President, AC & R Products Business, Blue Star, the company felt the need for a manufacturing unit since 40 per cent of its total business comes from the region.
“We will be adding another manufacturing facility to the existing seven units. It will entail an approximate investment of Rs 150 crore,” he said at a press conference here on Monday.
Declining to comment on the exact location of the proposed facility, Thiagarajan said there was a likelihood it could come up near Bangalore.
Banking primarily on increasing awareness of energy conservation measures, Blue Star Ltd hopes to double its inverter AC sales this year. A new variant in the Indian market, inverter AC is built with a device that adjusts with the change temperature smartly and reduces consumption of electricity by about 30 per cent than any 5-star rated AC.
According to B. Thiagarajan, inverter ACs will account for nearly 8 per cent of the company’s total sales by the end of 2014. “About 4 per cent of the 2.5 lakh units sold in 2013 were inverter ACs. It should increase to 8 per cent of the anticipated 3 lakh units by end-2014. Energy saving measures will help this segment grow substantially,” he said at a press conference here on Monday. Hike in power tariffs in some States will also boost sales, he added
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.