Refrigerators and such compressors will be made in India, Voltas will partner with world’s biggest company

Will be made in India... - India TV Paisa
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Refrigerators and such compressors will be made in India, Voltas will partner with world’s biggest company

Highlights

  • Voltas plans to set up compressor manufacturing unit
  • The partner company is one of the largest compressor manufacturers globally
  • Plan to invest minimum Rs 350 crore on compressor manufacturing

New Delhi. The compressor used in more such refrigerators of your home will now be made in India as well. Air conditioner company Voltas is planning to set up a compressor manufacturing unit in collaboration with an international partner. It will also invest Rs 500 crore. A top official of the company gave this information.

Voltas Chief Executive Officer (CEO) and Managing Director Pradeep Bakshi said that the Tata group company is planning to partner with an international company through a joint venture. This requires PN3 (Press Note 3) approval. Bakshi, however, did not give any details about his international partner and said that his partner company is one of the largest compressor manufacturers globally.

“We have already applied for PN3 approval for the joint venture and we are waiting for it,” he said. After getting the approval, we will set up the plant.” Regarding the same investment, he said that we are planning to invest a minimum of Rs 350 crore on compressor manufacturing and Rs 150 to 200 crore for air conditioning.

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