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Highly Electricals Appliances India, a joint venture between Shanghai Highly Group and Hitachi Appliances of Japan, said on Thursday it has completed phase IV construction of its manufacturing base in Ahmedabad. Its compressor making capacity has doubled to 2 million units per annum.
“Initially, we started our facility with a capacity of 500,000 units per annum, which was later ramped up to 0.95 million units. But, looking at the demand and the potential, we increased our capacity to 2 million units. We will be able to cater to the Indian and the international market from this facility,” said Highly India Chairman Li Haibin. “In 2017, the company hopes to clock 0.55 million compressor units in Gujarat, achieve 10-12 per cent growth and maintain 100 per cent market share in the State. By the end of 2016, Highly India will attain 40 per cent localisation,” he added.
The Indian compressor market size stands at 4.3 million units as of 2016 and grows at a CAGR of 9 per cent.
The company operates across four segments — compressors, smart motors, driving motors and related cooling and heating.
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