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


Please enter your comment!
Please enter your name here


Cosmos Malabaricus: India, Netherlands to release ‘treasure trove’ of Dutch archival records on Kerala

A project highlighting Kerala’s history based on 17th-century Dutch records and aimed at making records of already digitised archival...

Arjun Kapoor posts pic with cheeky caption about a woman, Malaika...

Arjun Kapoor is currently in Dharamshala, shooting for the horror-comedy Bhoot Police. He has now shared a fresh picture from the picturesque location with...

UP journalist charred to death

A journalist working with a Hindi newspaper was charred to death in his house under suspicious circumstances in Balrampur district of Uttar Pradesh,...

Will immunise Delhi within 3-4 weeks after Covid-19 vaccine becomes available,...

Delhi Health Minister Satyendra Jain said on Saturday that the coronavirus vaccine will be administered to all residents of the national capital within 3-4...

More Articles