Daikin to set up Rs 1,000-crore AC manufacturing plant in Andhra Pradesh

First firm to acquire land for a new factory under the PLI scheme for white goods

Japanese air conditioning major Daikin has become the first company to acquire land for a new factory under the production-linked incentive (PLI) scheme for white goods.

The India unit of the multinational, Daikin India, on Friday finished the purchase agreement for a 75-acre plant at Sri City (Andhra Pradesh) to set up a large air-conditioner (AC) manufacturing plant, which will come up in phases. Internal estimates suggested that Daikin would have to invest Rs 1,000 crore in the first phase.

The plant, expected to start operations from 2023, will have a total capacity of 1.5 million units per year and may create