MARCH 20249TOP STORIESBLUE STAR TO INVEST A SUBSTANTIAL AMOUNT TO INCREASE ITS MANUFACTURINGBlue Star, a leading home appliances company, plans to invest Rs 250 crore in the next financial year to increase the manufacturing capacity of room air conditioners at its Sri City facility in Andhra Pradesh. The company currently has a production capacity of 10 lakh room air conditioners across its various manufacturing facilities, including the Sri City unit.Blue Star's Managing Director, B Thiagarajan, stated that plans are in place to raise the manufacturing capacity to 1.8 million units in the near future. The present manufacturing capacity at Sri City will be increased by three lakh units next fiscal, with an investment of Rs 250 crore.The company aims to capture a market share of 15 per cent in the room AC segment by offering products at various price points. Currently, Blue Star holds a market share of 13.75 per cent.In addition to expanding manufacturing capacity, Blue Star plans to expand its distribution network across the country. The company aims for a turnover of Rs 9,500 crore by the end of the current financial year, up from Rs 8,000 crore in the last fiscal.Thiagarajan highlighted the growth potential of the room AC market, with the industry size expected to more than double by 2030. The current market size of room ACs in the country is approximately 10 million units per annum. TATA TO ESTABLISH THEIR ADVANCED MANUFACTURING UNIT IN TAMIL NADUTata Motors has announced plans to establish a state-of-the-art vehicle manufacturing facility in Ranipet, Tamil Nadu, with an investment of 9,000 crore. The Tata group company has signed a memorandum of understanding (MoU) with the Tamil Nadu government for this purpose, marking its second manufacturing plant in southern India. The new facility is anticipated to create approximately 5,000 employment opportunities.Chief Minister MK Stalin hailed this investment as a significant milestone for Tamil Nadu, reinforcing the state's status as the preeminent automobile hub of India. He likened the impact of Tata Motors' investment to that of Hyundai's during the tenure of former Chief Minister Kalaignar.The signing ceremony, attended by Chief Minister Stalin and senior executives of Tata Motors, took place in Chennai. This venture represents Tata Motors' inaugural investment in Tamil Nadu, signifying a historic moment for both the company and the state.Tamil Nadu's Industries Minister TRB Rajaa expressed enthusiasm about the investment, emphasizing Tamil Nadu's pivotal role as the automobile capital of India. He underscored the state's potential as a significant driver of economic growth and viewed Tata Motors' investment as a catalyst for further development.
< Page 8 | Page 10 >