Business News/ Companies / News/  Voltas’s new Tamil Nadu plant to be operational this fiscal

New Delhi: Tata Group’s consumer durables vertical Voltas Ltd on Friday announced ground work for its upcoming air conditioner factory in Thiruvallur district of Tamil Nadu. The facility will see an investment of around 500 crore over the next few years and will be operational in the current fiscal, helping the brand boost its footprint in south India.

The facility is spread over 150 acres and is expected to generate employment for approximately 1,500 workers.

“This facility will ensure that all the products manufactured in this facility are competitive on a global scale. This facility will initially manufacture Room Air Conditioners (RACs) and is an extension to the existing RAC facility in Pantnagar," the company said in a statement on Friday. The move is in line with the company’s commitment to Make in India, it added.

The unit will play a significant role in augmenting the company's capacity in catering to the growing consumer demand across India. It will help “expand our presence and footprint, especially in South India", said Pradeep Bakshi, managing director and CEO, Voltas Limited.

In fiscal 2022, Voltas reported operating revenues of 7,934 crore with profit of 506 crore for the period. In the last fiscal, it registered for the government’s production-linked incentive scheme for manufacturing several components including compressors for room ACs. In India, the company operates four manufacturing units.

Founded in India in 1954, Voltas is part of the Tata Group. Besides selling room air conditioners, it sells a range of air coolers, air purifiers, water dispensers, water coolers, commercial refrigeration and commercial air conditioning. It has also launched its range of Voltas Beko home appliances, through its joint venture with East Europe’s Arçelik.

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Updated: 26 May 2023, 01:53 PM IST
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