Indian air conditioning and cooling technology company Voltas Ltd., a subsidiary of airlines to automotive company Tata Group, plans to infuse more than 500 crore rupees ($70.2 million) to establish a manufacturing facility in Tirupati, Andhra Pradesh.
Voltas said that the facility will initially manufacture and assemble air conditioners and related cooling products with a total capacity of over 1 million units to start with.
The company added that it intends to create technologically advanced products which are expected to begin rolling out from the second half of 2020.
With the deal, the company will add the original equipment manufacturer base for home appliances, and simultaneously creating local employment opportunities in the region. The plant will be spread over 65 acres and will be one of the first cooling appliances units in Andhra Pradesh.