This morning, the Company performed Bhoomi Pujan and has laid the foundation stone at the site. The Company plans to invest Rs 550 crores over the next few years on this Plant spanning an area of 20 acres, in a phased manner. This Plant will be highly automated and will ensure that the products manufactured are globally competitive. The Company is also planning to acquire IGBC Gold Rated Green Building certification for this Plant.
The construction of the first phase of 30,000 sq meters will be completed by July 2022. Hence, this facility will be operational by Q2FY23 and will primarily manufacture room ACs with a maximum capacity of 12 lakh units per annum.
Leveraging the PLI scheme by the Indian Government, Blue Star Climatech has filed an application for manufacturing of Heat Exchangers and Sheet Metal components at this facility in Sri City.
The Plant is located closer to Southern ports and this will enable speedy and efficient logistics management for the Company. Besides, the setting up of this Plant will benefit the local communities in and around its vicinity as it is expected to create employment opportunities for around 1500 people.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
