Voltas to set up `500 crore plant in Tirupati
New Delhi: Tata group firm Voltas Sunday said it will invest over Rs 500 crore to set up a manufacturing facility in Tirupati, Andhra Pradesh.
“This facility will initially manufacture and assemble air conditioners and related cooling products with a total capacity of more than 1 million units to start with,” the company said in a BSE filing. Voltas said it aims to create technologically advanced products which are expected to start rolling out from the second half of 2020.
The company plans to invest over Rs 500 crore while putting together an OEM (original equipment manufacturer) base for home appliances, and simultaneously creating local employment opportunities in the region.
The manufacturing facility, spread over 65 acres, will be one of the first cooling appliances unit in Andhra Pradesh. Voltas, among the top ten companies within the Tata group, provides air conditioning and engineering solutions.