The Hindu Business Line : 2019-02-11
NEWS : 19 : 19
CHENNAI NEWS 19 BusinessLine MONDAY FEBRUARY 11 2019 • • Voltas to invest ₹500 crore on new facility in Tirupati POLL POURI A ‘guiding’ force Is Mahendra Singh Dhoni’s presence crucial to India’s World Cup chances? 78% 20% 2% OUR BUREAU Chennai, February 10 Yes No Can't say 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. TODAY’S POLL A ‘plane’ agreement Was there any wrongdoing in the revised Rafale deal negotiated by the NDA government? Cast your vote at: www.thehindubusinessline.com QUICKLY Boeing readies first four Chinook helicopters for IAF PRESS TRUST OF INDIA New Delhi, February 10 Boeing on Sunday announced the arrival of the first batch of four Chinook military helicopters for the Indian Air Force at the Mundra port in Gujarat.
A statement from the company said the CH47F (I) Chinooks will be ferried to Chandigarh, where they will be formally inducted into the Indian Air Force later this year.
The Chinook is used for transporting troops, artillery, equipment and fuel.
It is also used for humanitarian and disaster relief operations and transportation of relief supplies and mass evacuation of refugees.
“The CH-47F (I) Chinook is an advanced multi-mission helicopter that will provide the Indian armed forces with unmatched strategic airlift capability across the full spectrum of combat and humanitarian missions. The Indian Air Force currently has 15 Chinook helicopters on order,” the statement said.
India had finalised a mega contract with Boeing to procure 22 Apache helicopters and 15 Chinooks for the Indian Air Force in September 2015. “Boeing has strengthened its supply chain with over 160 partners in India, and a JV to manufacture fuselages for Apache helicopters. Annual sourcing from India stands at $1 billion,” the statement said.
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