Blue Star Ltd, an air conditioning and commercial refrigeration business, announced on Wednesday that it will invest about Rs 550 crore over the next several years to establish a greenfield manufacturing plant in Sri City, Andhra Pradesh.
“The firm intends to invest Rs 550 crores in this 20-acre factory over the next several years in a staggered way,” Blue Star Ltd stated.
Blue Star Managing Director B Thiagarajan commented on the move, saying, “Aligning ourselves to the ‘Make in India’ effort and by utilising the PLI plan by the Indian government, we intend to manufacture some components in-house at this facility.”
