Mitsubishi Electric’s Climaveneta to set up Rs 400-cr plant near Bengaluru

Bengaluru: Bengaluru-headquartered cooling equipment manufacturer Climaveneta Climate Technologies, a group company of Japanese multinational Mitsubishi Electric, is investing over Rs 400 crore in a plant at Narasapura, Kolar district, a key industrial hub located around 50 kms from Bengaluru, the company said on Thursday.

The 2.5 lakh square feet unit will manufacture central air-conditioning equipment, serving clients such as hotels, malls, multiplexes and data centers.

Presently having an order booking of over Rs 500 crore, the company is targeting to double the annual order intake in next five years. It is eyeing chiller market leadership with the operationalisation of the new facility. Climaveneta also aims to be a major export hub in cooling systems for nearby regions.

Anil Dev, Chief Executive Officer, Climaveneta Climate Technologies, India, said, “India’s rapid digitalisation, driven by government initiatives, e-commerce, cloud adoption, and AI, calls for a strong data center infrastructure, to support this growth. Reliable cooling systems are essential to prevent equipment failures in data centers.”

Climaveneta is building on the demand of data center markets in India, concentrated largely in West India (Navi Mumbai), followed by Chennai, Bengaluru, Hyderabad, Pune and Kolkata.

“Bengaluru, with its skilled talent and established industries, is ideal for our facility, which will create approximately 500 jobs,” added Anil Dev.

“Mitsubishi Electric plans to enhance its investment over the next few years and expand operations in and around Bengaluru as well as other locations,” said Atsushi Takase, Managing Director, Mitsubishi Electric India.

Apart from Climaveneta India, the Mitsubishi Electric Group already has two more of its companies in Karnataka, Mitsubishi Elevator India Private Limited (IMEC) and Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC), a 50-50 joint venture between Japan’s Toshiba Corporation and Mitsubishi Electric Corporation, which manufacture elevators, escalators and UPS solutions, respectively.