Frascold to set up assembly plant in India
INDIA: Italian refrigeration compressor and condensing unit manufacturer Frascold is to invest around £1.2m in a factory in Gujarat in a joint venture with its partner Frascold India.
The facility will initially produce both air-cooled and water-cooled condensing units, acting as an assembly shop for parts imported from Italy. The factory has a planned capacity of 7,500 per year but further investment of around £7m and the addition of a compressor manufacturing line is expected over the next 4-5 years.
Frascold India Pvt, in which the Italian firm has a 51% stake, will also open service centres in Ahmedabad, Chennai, Delhi and Kolkata, with another four being added in the future.