16 December 2015 13:05:41 IST

Daikin plans to invest ₹900 cr in second unit

‘Company aiming to reach the top of the list in the sector’

AC manufacturer Daikin India plans to invest ₹900 crore in its new unit, adjacent to its present factory at Nimrana in Rajasthan, a top company official said today

Considering the recent meeting of both Japanese and Indian Prime Ministers, Daikin decided to invest more in the country, focusing on the mid-segment of air conditioner customers, Daikin Airconditioning India Pvt Ltd Deputy Managing Director, Hitoshi Tanaka told reporters here.

The new unit will double the production of High Volt Air Conditioners from the present five lakh to one million, once it became operational by December 2017, he said, adding the total production in both the units will touch 1.5 lakh per year, as the company produced different types of ACs, both residential and commercial.

In view of the increasing demand, the company would also look out for setting up another unit in India, which could be in the South like Bengaluru or the West in Mumbai or Pune, as it was supplying to neighbouring countries like Nepal and Sri Lanka, he said, and target export to West Asia and East Africa.

Tanaka, here to inaugurate its second Solution Plaza, said with a turnover of ₹3,000 crore, the company was aiming to reach the top of the list in the sector, which is at present at number three spot.

Stating that the company has made an initial investment of ₹1,000 crore in India, he said it was looking to increase the market share from the present 13 per cent to 20 per cent in another couple of years.

He said the company proposed to increase its Solution Plazas to 300 from the present 250 this fiscal, across the country, which has 3,000 dealers.