"We are working on the project to set up a manufacturing unit in Uttaranchal. We are also exploring Himachal as an option and depending on which state government offers us the maximum benefits, we will execute our plans accordingly," K J Jawa, vice president operations, UPBG Voltas, said after the launch of the company's new split AC range.
Jawa said after withdrawal of tax benefits in Dadra, there has been an exodus of almost all the manufacturing plants from the Union Territory.
"Because of this factor, we are exploring opportunities in other states," he said. Besides Dadra, the company has manufacturing units in Hyderabad and an assembly plant in Himachal Pradesh.
Though the company has not firmed up an investment for the proposed plant, senior company officials said that it would require between Rs 75 to Rs 80 crore to begin manufacturing at a new location.
In 2003-04, Voltas recorded a sales turnover of about Rs 1200 crore (Rs 120 billion) and expects a 18 to 20 per cent growth in 2004-05.
Voltas on Friday launched a 0.8 tonne split AC at Rs 15,990 along with another two 1.5 tonne split ACs in the price range of Rs 23,000 to Rs 25,000.
