Danfoss sets up Rs 500 cr greenfield plant near Chennai

Mechanical and electronic components maker Danfoss Industries has set up its manufacturing, research and development unit near Chennai at an investment of Rs 500 crore.
"Danfoss India launches Rs 500 crore manufacturing facility in Oragadam, Chennai. The subsidiary of Danfoss Global, has inaugurated its new manufacturing, research and development and administrative campus in Oragadam.", a company statement said.
Danfoss plans on making India a manufacturing-cum-export hub for its regional subsidiaries. Danfoss would also source products from local suppliers also creating ancillary jobs, it said.
"India being a high-growth market for us, we kick started our Make in India initiative two years ago having assessed the tremendous potential for growth in the Indian manufacturing sector.

"We are pleased to commence our manufacturing at the right place and at the right time and believe this will enable Danfoss India operations become the export hub for Asia-Pacific markets..", Danfoss Global, President and Chief Executive Officer, Niels B Christiansen said.
The plant also includes a solar power plant which will generate 1MW of electricity, sufficient to address 10 per cent of electricity requirements of the campus, it said.