Voltas to in­vest ₹500 crore to set up plant in Tiru­pati

Hindustan Times (Delhi) - - COMMENT - COM­PILED FROM AGEN­CIES

NEW DELHI: Tata Group firm Voltas on Sun­day said it will in­vest over ₹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 ₹500 crore while putting to­gether an orig­i­nal equip­ment man­u­fac­turer (OEM) base for home ap­pli­ances, and si­mul­ta­ne­ously cre­at­ing lo­cal em­ploy­ment op­por­tu­ni­ties in the re­gion. The choice of Andhra Pradesh as the des­ti­na­tion for the new man­u­fac­tur­ing unit was due to the state’s ease of do­ing busi­ness and grow­ing fo­cus on ‘Make in In­dia’.

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