Diversified industrial solutions company, Ingersoll Rand India is planning to invest $20 million to set up a manufacturing plant in Chennai which will focus on the company's climate control solutions vertical. Products manufactured at the plant will primarily cater to heating, ventilation and air conditioning industry.

“By the middle of next year the plant should be ready. This is part of our three-year $100 million investment plan for India,” said Mr Venkatesh Valluri, Chairman and President Ingersoll Rand India, said on Thursday.

The company also plans to enhance its two R&D centres in India with the planned investment. “We will try to build a hub and spoke model for our R&D team in India,” added Mr Valluri.

At present, the company, which makes air compressor technology and energy management solution among others, has two manufacturing facilities at Naroda in Gujarat and Sahibabad in Uttar Pradesh.

Commenting on the business potential in India for Ingersoll Rand, Mr Valluri said, “The size of market in which we play in is $3 billion and I think this could almost double over the coming years.”

Technology integration

The company launched “Technology Convergence,” a solution that integrates all technology systems that go into a building via a single window making it easier to manage the building's lighting, heating and security systems.

Mr Valluri said that the new system could translate into 5-10 per cent energy cost savings for buildings. “Energy management is a huge focus area for us. We are making solutions on conserving energy and bringing integrated solutions to help increase efficiency, lower cost and simplify complex technologies,” he said.

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