Carrier to invest Rs 1,000 cr in Sri City facility; create 3,000 jobs

Carrier Air Conditioning & Refrigeration Ltd has signed a lease to set up a Rs 1,000-crore state-of-the-art air-conditioning manufacturing facility in Andhra Pradesh's Sri City, generating 1,000 direct and 2,000 indirect jobs. The project, spread across 39 acres, will focus on sustainable and energy-efficient cooling solutions, an official statement said.

"The lease deed was signed and exchanged by Sundaresan Narayanan, Managing Director of Carrier India, and Ravindra Sannareddy, Managing Director of Sri City," an official statement said.

Carrier Air Conditioning & Refrigeration Ltd is part of Carrier Global Corporation, a global leader in intelligent climate and energy solutions.

State Minister Nara Lokesh said, "Carrier's Rs 1,000 crore investment is a powerful validation of Andhra Pradesh's 'Speed of Doing Business' approach. What makes this project even more special is that Carrier took just eight months from their first visit to land handover and project finalisation...This 39-acre manufacturing facility at Sri City will create over 3,000 jobs and firmly position Andhra Pradesh as India's leading air-conditioning manufacturing hub".