Voltbek Home Appliances - a joint venture between Voltas and Ardutch BV -- said it will set up its first manufacturing facility in the country in Sanand, Gujarat.
Voltbek Home Appliances - a joint venture between Voltas and Ardutch BV -- said it will set up its first manufacturing facility in the country in Sanand, Gujarat. The plant will manufacture home appliances, including refrigerators and washing machines.
In May last year, Voltas had formed a JV with Arcelik AS, a company incorporated in Istanbul, Turkey. The JV company proposes to leverage the brand presence and sales and distribution network of Voltas, while Arcelik AS will contribute in R&D and manufacturing.
The products of the JV company are expected to be marketed under the 'Voltas-Beko' brand.
"Voltbek has today laid ground to start construction of their first manufacturing facility, spread over 60 acres, in Sanand, an upcoming industrial hub in Gujarat. This facility will be manufacturing Home Appliances that include refrigerators and washing machines," Voltas said in a BSE filing.
The filing, however, did not disclose investment details.
"This manufacturing facility will be one of the first white goods appliances unit in the state of Gujarat, creating an OEM (original equipment manufacturer) base for home appliances in the region along with local employment opportunities," the filing said.
As per industry reports, the consumer durables market in India is slated to grow at 10–12 percent per annum.