Shanghai Hitachi, a JV between China-based Highly Group and Japanese firm Hitachi AP, leading air-conditioner (AC) compressor manufacturers on Tuesday commissioned India's largest air-conditioning compressor plant in Ahmedabad which has been set up at an investment of $72 million (Rs 450 crore).
The plant was inaugurated by Saurabh Patel, minister of energy & petrochemicals, government of Gujarat.
The move is part of the $1.1 billion Chinese major's strategy to expand its presence in the global arena of the AC market, particularly in the BRICS countries. While other three plants of the company, two at Shanghai and one at Nanchang, China carry individual capacities of 6 million each, the new plant in India will take up its collective capacity to 20 million sets.
The unit in India is set up as company's Indian arm which is known as Highly Electrical Appliances India private ltd (Highly India).
"Shanghai Hitachi entered India market in 2003, and then in 2008, we established a technical service center in New Delhi to strengthen our market position. Till now we have already cornered nearly 40 per cent share of country's market for AC. So India has become the most important overseas market for Highly and now, with this greenfield investment in India, we move one step forward towards our ultimate goal of becoming a major global supplier of AC compressor," said Shen Hong, managing director of Highly India.