Hintastica Private Limited, a 50/50 joint venture between Groupe Atlantic and Hindware Home Innovation Limited, officially opened a new production facility at Jadcherla with an investment of Rs. 210 crore. The facility would manufacture geysers and be able to produce six lakh of them.
There will be 500 employees working at the facility, which occupies 5.7 acres.
In addition to the Rs.210 croreinvestment, the facility will further see an investment of Rs.100-150 crore in the next phase when it will increase the capacity by at least 50 per cent.
This investment will be for the incremental machinery that will be needed for the expansion. In all, the total capacity that can be achieved is about 12 lakh units.
This was disclosed by Hindware Home Innovation Chairman SandipSomany at an event. Groupe Atlantic CEO Pierre-Louis Francois and Thierry Berthelot, Consul General of France, were also present.
