Mitsubishi Electric subsidiary, Climaveneta Climate Technologies, is investing $US47.4 million in a 23,000m2 manufacturing facility near Bengaluru, India.
The chiller manufacturer is aiming to double its annual order intake in the next five years and to create an export hub for the region.
In addition to chillers, Climaveneta Climate Technologies (CCT) is a leader in co-location data centre cooling products in India.
The state-of-the-art plant will manufacture central air-conditioning equipment such as Screw Chillers, Magnetic Levitation Technology Chillers, Scroll Chillers, Conventional Centrifugal Chillers, High Precision AC units, Heat Pumps, for HVAC application.
The new facility will create 500 jobs, according to Masafumi Ando, CEO, Mitsubishi Electric Hydronic and IT Cooling S.p.A.
“The group is targeting 2050 for achieving complete carbon neutrality and Climaveneta India is playing a major role in this plan,” he said.
Mitsubishi Electric India managing director, Atsushi Takase, said Mitsubishi Electric plans to enhance its investment over the next few years and expand operations in and around Bangalore as well as other locations.
“The vast availability of skilled manpower and the presence of manufacturing and technology companies in the city and a favourable government policy is the biggest pull factor for Mitsubishi Electric,” Takase said.
Apart from Climaveneta India, the Mitsubishi Electric Group already has two more of its companies in Karnataka region – Mitsubishi Elevator India Private Limited (IMEC) and Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), a 50-50 joint venture between Japan’s Toshiba Corporation and Mitsubishi Electric Corporation, which manufacture Elevators, Escalators & UPS Solutions, respectively.