Comments
Voltas Ltd, a Tata Group company, will invest over ₹500 crore in a new manufacturing facility at Tirupati to manufacture and assemble air conditioners and related cooling products, with an initial capacity of over one million units.
With a 24-per cent market share, the company aims to create technologically advanced products that are expected to start rolling out from the second half of 2020. It will put together an OEM base for home appliances, and simultaneously create local employment opportunities in the region.
The manufacturing facility will be one of the first cooling appliances unit in Andhra Pradesh, which was chosen due to the State’s ease of doing business and growing focus on Make in India. The chosen location provides dual benefits of superior market access and cost effective connectivity via road and port, says a company press release.
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.