Danfoss to invest ₹ 100 cr. in power drives

The Indian subsidiary of Denmark-based heating, ventilation and air-conditioning (HVAC) firm Danfoss is planning to invest ₹ 100 crore in expanding production of power drives at Oragadam in Chennai, said Ravichandran Purushothaman, president, Danfoss India.

“We have decided to expand our current range of power drives that calls for an investment of ₹ 100 crore [from] January 2021 onwards, ”he added.

Danfoss started making drives at its Oragadam factory in September.

These are widely used in industries such as food and beverages, plastics, air compressors and by original equipment manufacturers of textiles, chemical, cement, steel, water, oil & gas, marine, paper and others. “Our range of drives will get expanded from a single variant to six. Currently, 60% of it is being exported, ”he added.

Fresh investment will enable us to increase the local content in the company’s drives from 40-90% and would also lead to ramp up of workforce by 300 people, he said.

Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

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