Blue Star zeroes in on Jammu, Sri City SEZ for new plants

Air-conditioner maker Blue Star Ltd plans to set up two manufacturing facilities at Jammu and Sri City Special Economic Zone near Chennai with a total outlay of Rs 175 crore that would help double its capacity over the next two years, a top official said.
"We have zeroed in on two locations at Jammu and Sri City (Special Economic Zone). Investments as I have said already will be around Rs 175 crore. In the first phase, we expect total capacity (of both plants) to be about half a million units," Blue Star Executive Director B Thiagarajan said.
Thiagarajan told reporters that the company was targeting 25 per cent growth in 2016-17, garnering 12 per cent market share.

"We have set target in room air conditioning business to 25 per cent and achieve 12 per cent market share. Current market share is 10.5 per cent," he said.
After launching a series of models today, he said the company was also mulling options to make air conditioners operating on solar energy.
For developing such solar power air conditioners, the company has inked pact with Indian Institute of Technology, Madras.
"We will be looking at solar powered air conditioning business (with tie-up IIT Madras)," he said.
The company has alloted Rs 40 crore for marketing campaign and has proposed to set up exclusive retail outlets under 'Blue Star Platinum' in New Delhi, Mumbai, Chennai, Bengaluru, Ahmedabad, Hyderabad and Kolkata at an investment of Rs one crore each.