Adani to manufacture copper tubes for air-conditioners
South Korean industrial heavyweight LG Electronics India Private Ltd has proposed to invest Rs.300 crore for manufacturing compressors, control assemblies for remotes, motors, heat exchangers and plastics moulding components for air conditioners under the Production Link Incentive (PLI) scheme.
LG is among 15 companies selected under the second round of PLI scheme for White Goods. These companies have committed Rs.1,368 crore investment.
Indian multi-national Adani Group’s Adani Copper Tubes Ltd has made the biggest commitment of Rs.408.00 crore for producing plain and grooved copper tubes for air conditioners.
In the PLI-supported LED Lights segment, Jindal Poly Films has committed to invest Rs.360 crore for manufacturing metalized film for capacitors.
Other companies selected for the scheme are Starion India (with Rs.50.10cr investment), Kaynes Technology (Rs.50.00cr), Mitsubishi Electric (Rs.50.00cr), Swaminathan Enterprises (Rs.50.00cr), Sahasra Semiconductors (Rs.20.00cr), Konark Fixtures (Rs.16.55cr), Wipro Enterprises (Rs.12.00cr), Lumens Aircon (Rs.10.50cr), SVN Opto Electronics (Rs.10.33cr), Crompton Greaves Consumer Electricals (Rs.10.15cr), Elin Electronics (Rs.10.00cr) and Esko Casting and Electronics (Rs.10.00cr).
Four companies’ applications for PLI supported manufacturing have been referred to the Committee of Experts (CoE) for examination and its recommendations.
These companies had proposed Rs.180.63 crore investments.
These are Zeco Aircon (Rs.100.00cr investment), EMM ESS Aircon (Rs.52.00cr), Speedoffer India (Rs.18.00cr) and Simoco Telecommunications (Rs.10.63cr). fiinews.com
