Indian Economy News

Mitsubishi Electric India would invest US$ 230.9 million (Rs. 1,891 crore) to build an air conditioner and compressor factory in Tamil Nadu

The Chief Minister (CM) of Tamil Nadu, Mr. M. K. Stalin laid the foundation stone for the new manufacturing facility that the electronic equipment manufacturer Mitsubishi Electric India plans to establish at an estimated cost of US$ 230.9 million (Rs. 1,891 crore).

Top representatives of Mitsubishi Electric India signed a memorandum of agreement (MoU) with the Guidance supported by the state government, to establish the factory in the adjoining Tiruvallur district.

On a 52-acre plot of land owned by Origins by Mahindra in Peruvoyal village, Gummidipoondi Taluk in the adjoining Thiruvallur district, a manufacturing facility for room air conditioners and compressors is anticipated to be built.

Mr. M.K. Stalin formally laid the foundation stone for the manufacturing facility along with other ministers.

Mitsubishi Electric India shall be investing US$ 230.9 million (Rs. 1,891 crore) through 100% Foreign Direct Investment (FDI). According to the company, this facility will generate over 2,000 jobs, 60% of which would be held by women.

To achieve carbon neutrality, the firm would put in place several efforts, such as reducing carbon dioxide emissions through improved thermal insulation and the use of extremely effective air conditioning and heated water systems.

According to company representatives, the facility's commercial production is scheduled to start in October 2025, and by December 2025, it will have a capacity of three lakh room air conditioners and 6.5 lakh compressors.

The company claimed that the manufacturing facility would achieve sustainable development goals by taking steps including reusing wastewater through subterranean filtration treatment and site greening.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.