Daikin to set up plant with 1,000 cr in Sri City

Vijayawada: Daikin India Regional Director NK Rao, said the company would set up Daikin air conditioners manufacturing plant in Sri City, Chittoor district, Andhra Pradesh, with investment of Rs 1,000 crore. He said the plant would be set up in 75.5 acres and the production will begin next year. He visited Vijayawada on Thursday to participate in a programme and interacted with the media. He said the Daikin have set up two plants in Rajasthan and the third plant will set up at Sri City. NK Rao said Daikin India recently signed the land purchase deal at Sri City, Andhra Pradesh, for manufacturing of ACs & components in the AC manufacturing space, entailing an investment of Rs 1,000 Crore during the first phase. This new facility will augment our capacity from the current 1.2 million units to 2.5 million units, classifying Daikin India as the largest Exporter of HVAC equipment's from India. Daikin India is the first Japanese AC company to take this pioneering & leadership step to invest in India with a view to give prominence to – 'Atmanirbhar' India (self-reliant). Sensing a big manufacturing opportunity in India and an endorsement for the Indian government's 'Make in India' vision, Daikin chose Sri City in Southern India as one of the hottest next destination to set up its 3rd manufacturing base after facilities at Neemrana, Rajasthan.

"At Daikin we have a Vision for – 'Make in India' products that is designed to serve the needs of every Indian. With ACs, now becoming a necessity, there was a need for a radical change in product innovation &standards in order to serve the emerging consumer aspirations.