Climaveneta Climate Technologies (CCT), a subsidiary of the Japanese multinational Mitsubishi Electric based in Bengaluru, is set to invest Rs 400 crore in its cutting-edge manufacturing facility located at Narsapura in Kolar district. The company’s CEO, Anil Dev, announced the investment on Thursday, adding that the plant would be officially inaugurated on Friday.

We are investing Rs 400 crore at our Narsapura plant. Presently we are having an order booking of over Rs 500 crore, as we target to double the annual order intake in next five years,Anil Dev said.
"The plant will manufacture central air-conditioning equipment such as Screw Chillers, Magnetic Levitation Technology Chillers, Scroll Chillers, Conventional Centrifugal Chillers, High Precision AC units, Heat Pumps, for HVAC application", he said at a press conference.

Anil Dev said the company serves large-scale top clients in India, including multinational companies in hotels, healthcare facilities, shopping malls, multiplexes, commercial projects from leading developers, and corporate groups. Today, the company has 300 people on its payroll and will swell to 600 in the next five years.