Voltas Revives Plans for AC Compressors

Voltas has revived its plans to manufacture air conditioner compressors in India by forging a partnership with a firm from either Japan or South Korea.
The home appliance manufacturer has lined up investments of over INR 13 billion (about US$ 156 million) to make components such as compressors, expand capacity, and manufacture newer home appliances. The compressor project will involve the investment of over INR 3.5 billion (about US$ 42 million), while the company is also investing INR 5 billion (about US$ 60 million) immediately in its Chennai plant to produce air conditioners. This will be followed by a round of infusion of another INR 5 billion in it over the next four to five years.