Voltas, the consumer durables division of Tata Group, has announced the commencement of groundwork for its upcoming air conditioner factory in Thiruvallur district, Tamil Nadu.
This new facility, with an investment of approximately Rs 500 crore over the next few years, is expected to be operational in the current fiscal year, enabling the brand to expand its presence in south India.
Spanning across 150 acres, the facility is projected to create employment opportunities for around 1,500 workers. According to a statement released by the company on Friday, this factory will ensure the competitiveness of its products on a global scale.
Initially, it will manufacture Room Air Conditioners (RACs) and will serve as an extension to the existing RAC facility in Pantnagar. Voltas emphasised that this move aligns with its commitment to the Make in India initiative.
The new unit will play a significant role in enhancing the company's production capacity to meet the growing consumer demand across India. Pradeep Bakshi, the Managing Director and CEO of Voltas Limited, stated that it will aid in expanding their presence and footprint, particularly in South India.
In the fiscal year 2022, Voltas reported operating revenues of Rs 7,934 crore, with a profit of Rs 506 crore during that period. Additionally, the company participated in the government's production-linked incentive scheme in the previous fiscal year, manufacturing various components, including compressors for room ACs. Voltas currently operates four manufacturing units in India.
Established in India in 1954, Voltas is a subsidiary of the Tata Group. Alongside room air conditioners, it offers a range of products such as air coolers, air purifiers, water dispensers, water coolers, commercial refrigeration, and commercial air conditioning. Through its joint venture with Arçelik from Eastern Europe, Voltas has also introduced the Voltas Beko line of home appliances.