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Mitsubishi Electric Group company's Climaveneta Climate Technologies aims to be major player in Indian chiller market

The company is setting up a manufacturing facility at a cost of Rs 400 crore in Bengaluru

Mitsubishi Electric Group company Climaveneta Climate Technologies (CTT) is set to invest Rs 400 crore in its manufacturing facility near Bengaluru to increase its market share in the Indian chiller market. Though currently its production is predominantly targeted at the Indian market, the company plans to double its capacity by 2030 and scale up exports to nearby regions.

The company presently has an order book of over Rs 500 crore and is targeting to double the annual order intake in the next five years. “Our chiller systems (40 per cent) is dominated by the data centres where the demand for the chiller system is growing phenomenally. Our current capacity from our factory here is around 1,200 chiller systems per annum, but we aim to double it in the near future to 2,400 systems depending on the traction we get. Currently, we employ close to 300 people but plan to take it to 600 by 2030,” Anil Dev, chief executive officer, CCT India, told THE WEEK.

The plant will manufacture central air-conditioning equipment such as screw chillers, magnetic levitation technology chillers, scroll chillers, conventional centrifugal chillers, high-precision AC units, and heat pumps for HVAC application. CCT has many customers in India, including global data centre companies, multinational hotel chains, health care establishments, malls, multiplexes, commercial projects of real estate developers, corporate groups and industrial applications.

“Reliable cooling systems are essential to prevent equipment failures in data centers. We are targeting the high demand from the data centers for our systems in India. This chiller market is concentrated largely in West India (Navi Mumbai), followed by Chennai, Bengaluru, Hyderabad, Pune and Kolkata. We had started the factory in 2020. Our facility will also manufacture different ranges of central air conditioning equipment for both domestic and international markets. We will always strive to bring efficient technologies to the Indian market and pursue ethical growth by giving the highest priority to sustainability and protection of the environment,” said Dev.

As per Masafumi Ando, chief executive officer, Mitsubishi Electric Hydronic and IT Cooling S.p.A, the group is targeting 2050 for achieving complete carbon neutrality and Climaveneta India will play a major role in this plan. “Europe and many developed countries are phasing out refrigerants that have global warming implications and hence alternative technologies are the need of the hour. Through our solutions we aim to ensure zero percent ozone depletion,” remarked Ando.

Mitsubishi Electric Corporation specialises in the manufacture, marketing, and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company recorded consolidated group sales of 5,257.9 billion yen ($34.8billion) in the fiscal year ended March 31, 2024.

Mitsubishi Electric in India offers products and solutions for air conditioners, factory automation, and industrial systems, semiconductors and devices.