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 extensively 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.

A letter from the Editor

Dear subscriber,

Thank you!

Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.

The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.

We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.

Suresh Nambath

Source link