BSH Group to invest Euro 100 m on Chennai unit.

The Euro 14-billion BSH Group will invest an additional Euro 100 million in India to set up a refrigeration facility at its manufacturing campus at Sriperumbudur, and also on a technology centre, marketing and brand building.

The company, on May 31, laid the foundation for a new refrigerator factory at its 44-acre facility near Chennai, where it had already invested about Euro 100 million in 2015 to manufacture washing machines.

'The additional investment is our commitment to the Make in India programme and serve the demands of the fast-growing India market,' Michael Schollhorn, Chief Operating Officer, BSH Hausgerate GmbH, told BusinessLine .

Gunjan Srivastava, Managing Director & CEO, BSH Household Appliances Manufacturing Pvt Ltd., said refrigerators from the plant will hit the markets from 2021. 'We are aiming for an annual capacity of five lakh for both India and export,' he said.

HBL