China based SHEC to double its Gujarat plant capacity to 2 million

Ahmedabad

China based Shanghai Hitachi Electrical Company (SHEC) today announced to double the annual production capacity of the compressor manufacturing plant of its subsidiary, Highly India, situated at Changodar near Ahmedabad to 2 million units by next year with an estimated investment of Rs 430 crore.

Addressing a press conference here today SHEC Chairman Shen Jianfang said Highly India, the market leader in India in HVAC compressors (used mostly in residential Air Conditioners) with a market share of over 35% will increase its installed capacity from current 1 million units to 2 million by next year to meet the growing export commitments as well as domestic requirements.

He said that the sales of Highly India plant which started functioning in November 2013 only has grown robustly to 4 lakh units this year. The year on year increase was 130%.

Mr. Jianfang said that the residential AC market in India is likely to grow at a good pace in the wake of the growing economy of the country, development of the real estate sector and improving life style.

Managing Director of the company Shen Hong said that the AC market in India is expected to grow between 10 to 12% in 2016 and 2017. The company was also looking for exports to the middle east and south east Asian markets with a target of 50 thousand units for 2016 and one lakh for 2017.

– DeshGujarat