Voltas has begun the groundwork for a new air conditioner manufacturing plant at Thiruvallur district in Tamil Nadu.
In a regulatory filing, the Tata Group company said the new manufacturing facility is spread over 150 acres, and Voltas will invest over ₹500 crore in the factory in the next couple of years. The new plant will be the fifth manufacturing facility for the consumer durable manufacturer, which has factories in Pantnagar (Uttarakhand), Waghodia and Sanand in Gujarat.
“This facility will initially manufacture Room Air Conditioners (RACs), and is an extension to the existing RAC facility in Pantnagar,” said Voltas in a press release.
Pradeep Bakshi, MD and CEO, Voltas Limited, said: “The new facility will play a significant role in augmenting Voltas’ capacity in catering to the growing consumer demand across India, and will help expand our presence and footprint, especially in South India.”
The company said the facility will be fully operational within this fiscal year, and is expected to create employment for about 1,500 workers in the local communities. Shares of Voltas were trading flat at ₹811.70 apiece on the NSE on Friday.