: Hindware JV sets up Rs 210 Cr-geyser plant at Jadcherla #IndiaNEWS #Business Hyderabad: Hintastica Private Limited, a 50-50 joint venture between Hindware Home Innovation Limited and Groupe Atlantic,

Hindware JV sets up Rs 210 Cr-geyser plant at Jadcherla #IndiaNEWS #Business
Hyderabad: Hintastica Private Limited, a 50-50 joint venture between Hindware Home Innovation Limited and Groupe Atlantic, on Thursday inaugurated a new manufacturing plant at Jadcherla with an investment of Rs.210 crore. The unit will make geysers and will have a capacity to make six lakh units.
The unit, which is set up on 5.7 acres, will employ 500 people.
In addition to the Rs.210 crore investment, 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 Sandip Somany at an event. Groupe Atlantic CEO Pierre-Louis Francois and Thierry Berthelot, Consul General of France, were also present.
About 30 per cent of the production from the Jadcherla unit will be for exports and the remaining will be for the domestic market.
Repeat investments in Telangana
Somany Impresa Group has nine manufacturing units in Telangana. The group has earned encomiums from IT and Industries Minister KT Rama Rao for being a repeat investor in Telangana. “We choose Telangana for our investments because it has a good business environment,??? he said.
In the past 18 months, there have been investments of over Rs 600 crore in various units in the State. Between now and June, another Rs 200 crore will be invested in Telangana. This will take the total investment to about Rs.800 crore in the two years in Telangana, he said.
French Bureau
Meanwhile, Thierry Berthelot, Consul General of France, said the proposed Le Bureau de France an annex to the Consulate General of France in Bengaluru – in Hyderabad would be set up this year. “This is an effort to be closer to businesses,??? he said.
It was formally announced in October last year.
He heaped praise on Industries Minister KT Rama Rao for his efforts to explain about the business friendly policies of Telangana. He said he had personally seen the State’s efforts during his visits to Safran Group and Schneider business events in Hyderabad in recent times. Both of these have made significant investments in the State, he said.
The Bureau is set to provide consular services, visas for students and build business relations with companies in Hyderabad.

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