Thermax initiates manufacturing facility in Andhra Pradesh by investing INR 166 Crore.
Published Date | 2019 February 1
Energy and environment solutions provider Thermax inaugurated its new manufacturing facility with an investment of Rs 166 crore; will drive the Absorption Chiller Market globally.India: Thermax Limited, a leading energy, and environment solutions provider, inaugurated its new manufacturing facility in Sri City, Andhra Pradesh's on Thursday with an investment of Rs 166 crore. The Manufacturing Unit is constructed on a 40-acre plot in the city's Domestic Tariff Zone Phase I which has a capacity to produce 400 machines per year. "While this new plant will help us serve our existing and potential customers in the southern region better; it will also be an important manufacturing hub for Thermax's global operations that will augment our export capabilities"-said, Meher Pudumjee, the Chairperson, Thermax. In addition, M.S. Unnikrishnan, MD, and CEO, Thermax said,- "We have invested in digitization and automation to facilitate zero-defect processes that will ensure superior quality products to our customers. With the increasing demand for green and energy efficient solutions globally, we see our vapour absorption products manufactured in this plant as an ideal fit towards sustainability." This is the ninth manufacturing plant of Thermax in India, out of the 15 hubs spread across China, Germany, Denmark, Indonesia and Poland and many more. According to Rani Barman, analyst at BlueWeave Consulting, The absorption chiller market is growing rapidly attributed to increasing demand for renewable energy sources across industrial, commercial and domestic applications. The major factors which are expected to drive the growth of market are the benefits offered by these over conventional chillers. These chillers have low maintenance and operational cost, low noise level, along with enhanced efficiency. Therefore, adoption of these chillers is increasing owing to reason such as it emits very low levels of harmful gas and other pollutants, making it environmentally-friendly as compared to conventional refrigerants and also consumes a small quantity of fuel as compared to different refrigeration devices. Absorption chillers use waste heat energy as a derivative in gas turbines and hence widely used in commercial centers, and resorts for refrigeration and cooling purposes. Furthermore, increasing amount of waste heat in various industries has pressed manufacturers to adopt absorption chillers. Other factors driving the market growth include constant variations in electricity prices and also the rising demand for environment-friendly refrigerators. According to BlueWeave Consulting’s upcoming report, Titled- “Global Absorption Chiller Market, By Technology (Single Stage and Double Stage), By Absorber Type (Lithium Bromide and Ammonia), By Application (Non-industrial and Industrial), by Power Source (Direct Fired, Indirect Fired, and Water Driven), Size and Forecast 2018-2024.”- The Global Absorption Chiller Market is growing because the absorption chillers are powered by solar energy (other than natural gas or fuel) and as large chilling applications is gaining popularity, which in turn is increasing the demand for absorption chillers. The advantages of using solar power absorption chillers is that it provides maximum cooling performance while minimizing the consumption of electricity, low cost, and thereby reducing the ever increasing electricity consumption in summer, primarily attributed to conventional air conditioner systems which directly propel the Global Absorption Chiller market for the forecast period. According to BlueWeave Consulting’s upcoming report, Titled- “India Absorption Chiller Market, By Technology (Single Stage and Double Stage), By Absorber Type (Lithium Bromide and Ammonia), By Application (Non-industrial and Industrial), by Power Source (Direct Fired, Indirect Fired, and Water Driven), Size and Forecast 2018-2024.”- The India Absorption Chiller Market is growing because these are environmentally-friendly as compared to conventional refrigerants, owing to lower emissions of gas and other pollutants during their operation. The advantages of using solar power absorption chillers are low noise level, improved efficiency, consumer preference towards renewable energy, and low maintenance cost are directly propel the Global Absorption Chiller market for the forecast period.