Hindware JV sets up Rs 210 Cr-geyser plant at Jadcherla

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.