Climaveneta to build new $47m plant in India
10th November 2024
INDIA: Chiller manufacturer Climaveneta Climate Technologies is to Invest around $47m on a 23,000m2 manufacturing facility, located at Narasapura, near Bengaluru.
The Bangalore-headquartered Indian subsidiary of the Italian manufacturer and group company of Japanese multinational Mitsubishi Electric, aims to create a major export hub for the region
A leading manufacturer of cooling equipment, and precision as well as data centre cooling systems, Climaveneta boasts a current order book of over $59m. The company is aiming to double its annual order intake in the next five years and become a major export hub in cooling systems for nearby regions. It will create approximately 500 jobs.
The new plant will manufacture central air conditioning equipment such as screw chillers, magnetic levitation technology chillers, scroll chillers, conventional centrifugal chillers, high precision AC units, and heat pumps for HVAC applications.
“Mitsubishi Electric plans to enhance its investment over the next few years and expand operations in and around Bangalore as well as other locations. The vast availability of skilled manpower and the presence of manufacturing and technology companies in the city and a favourable government policy is the biggest pull factor for Mitsubishi Electric,” said Mitsubishi Electric India MD Atsushi Takase.
