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Climaveneta to invest Rs 4 billion in Bengaluru facility expansion
Industry News- Nov 08,24
CCT, a leading chiller manufacturer with an order book exceeding Rs 5 billion, aims to double its annual order intake and achieve Rs 10 billion in revenue within the next four to five years.
Climaveneta Climate Technologies (CCT), a subsidiary of Japan’s Mitsubishi Electric, is set to invest Rs 4 billion to expand its manufacturing facility at Narsapura near Bengaluru. This expansion is set to double its workforce from the current 300 employees over the next five years.
CCT, a leading chiller manufacturer with an order book exceeding Rs 5 billion, aims to double its annual order intake and achieve Rs 10 billion in revenue within the next four to five years. Anil Dev, CEO, CCT India, highlighted that India's chiller market is valued at approximately Rs 28 billion. Currently, exports make up a small portion of the company’s operations, but Dev expects export revenues to rise to 20% within five years.
With a 14% market share, CCT is targeting an 18% share by 2030. The facility’s current production capacity stands at 1,200 chiller systems annually, with about 40% of its output dedicated to data centers. CCT plans to increase its export capabilities in the near future as part of its growth strategy.
(New Indian Express)
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