Voltas Builds New AC Manufacturing Plant in Tamil Nadu to Meet Growing Demands

26 May 2023 , 09:53 AM

Voltas has officially commenced the construction of its new air conditioner manufacturing plant in Tamil Nadu. The upcoming facility is expected to cater to the country’s increasing demand for air conditioners while strengthening Voltas’ market presence. 

The company aims to invest over Rs 500 crore in this project, further expanding its operations and creating job opportunities.

Addressing Consumer Demand and Expanding Footprint:

Voltas recognizes the need to bolster its production capabilities to meet the growing consumer demand. The new facility in Tamil Nadu is poised to play a pivotal role in augmenting Voltas’ manufacturing capacity, especially in South India. The company aims to establish a stronger market position and enhance customer satisfaction by expanding its presence and footprint in this region.

Investment and Manufacturing Plans:

The planned investment of over Rs.500 crore underscores Voltas’ commitment to the project. Spanning a sprawling 150-acre area, the manufacturing plant will primarily focus on producing room air conditioners. This facility extends to Voltas’ existing unit in Pantnagar, Uttarakhand. With a strategic location and advanced infrastructure, the Tamil Nadu facility will commence operations within the current fiscal year.

Fostering Employment Opportunities:

The development of the new manufacturing plant is not only beneficial for Voltas but also for job seekers in the region. The company anticipates creating approximately 1,500 job opportunities through this expansion project. This significant employment generation will contribute to the area’s economic growth and provide livelihoods for many individuals.

Voltas – Stock Performance:

On May 25, Voltas’ shares closed at Rs.812.90 on the National Stock Exchange, marking a 1.18 % increase (approximately) from the previous day. The company’s ongoing expansion plans and positive market sentiment have contributed to its upward trajectory, highlighting investors’ confidence in Voltas’ growth prospects.

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