Bengaluru-headquartered Climaveneta Climate Technologies (CCT), a group company of Japanese multi-national Mitsubishi Electric, is investing ₹400 crore to set up a plant to manufacture industrial chillers at Narsapura in Kolar district of Karnataka.
The plant will manufacture central air-conditioning equipment such as screw chillers, magnetic levitation technology chillers, scroll chillers, conventional centrifugal chillers, high-precision AC units, and heat pumps, said company CEO Anil Dev.
Addressing a press conference here on Thursday, he said the company was having an order booking of over ₹500 crore. “The new plant will help us double our annual order in the next five years. We also have plans to double our people count from 300 currently,” he said.
Mr. Dev said CCT currently holds a 14% share in the country’s ₹2,800 crore industrial and centralised air conditioners and coolers sector, a market space that was growing significantly year-on-year.
“This is our first production facility in India. This will help us significantly reduce our imports from 50 to 55% currently. We have also asked our global suppliers to expand base to Karnataka to support supply chain,” added Mr. Dev.
Commenting on the market potential for centralised cooling and chilling equipment, he said data centres currently account for some 20% of the total market.
“India currently has a total installed capacity of 1 gigawatt (GW) and this is likely to become three times in the next three years. Also, the country has 10 billion sq. m of green certified constructions and still growing,” Mr. Dev elaborated.
source/content: thehindu.com (headline edited)