BENGALURU: Bengaluru-headquartered Climaveneta Climate Technologies (CCT), a group company of Japanese multinational Mitsubishi Electric, on Thursday announced that it will invest Rs 400 crore to expand its manufacturing facility at Narsapura near Bengaluru. It will also double its workforce from the present 300 people in the next five years.
Chiller manufacturer CCT, which currently has an order booking of over Rs 500 crore, aims to double the annual order intake in the next five years, and is also targeting a revenue of Rs 1,000 crore in the next four to five years.
Anil Dev, CEO, Climaveneta Climate Technologies, India, said the chiller market size is about Rs 2,800 crore in India and that they are also looking for exports. “We are doing exports in a small way currently, but in another five years, our export revenues could be 20%,” he said.
The company’s present market share in the industry is about 14% and it has set a target of 18% by 2030. The facility will manufacture central air-conditioning equipment and its current capacity is about 1,200 chiller systems annually. “About 40% of what we do at present is for data centres,” Dev said, adding that they will scale up exports in the near future.
