Voltas to invest Rs 500 crore

Voltas Limited has decided to set up a new manufacturing unit, spread over 65 acres, at Tirupati in Andhra Pradesh, at a cost of Rs 500 crore.

The new plant by the leading player in residential air-conditioners in India, would initially manufacture and assemble air-conditioners and related cooling products with a total capacity of more than one million units, said a company statement.

It added that the facility is expected to start rolling out products from the second half of 2020. It further said the OEM base facility for home appliances will provide employment opportunities for locals.

The new facility would be one of the first cooling appliances units in the State of Andhra Pradesh. Pradeep Bakshi, MD & CEO, Voltas Limited, said, “We are delighted to have laid the ground for the Voltas manufacturing plant here in Tirupati. We are thankful to the Government of Andhra Pradesh and APIIC officials for all the support extended.”

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Author: Research Desk