Daikin India and Rechi Precision Forge Joint Venture to Strengthen Compressor Manufacturing in India
INDIA: Daikin India, a wholly owned subsidiary of Japan-based Daikin Industries, has partnered with Rechi Precision, a leading player in the compressor industry, to establish a joint venture (JV) focused on manufacturing, designing, and selling rotary (inverter and non-inverter) compressors in India and select international markets. This marks Daikin India's first partnership in the country.
As part of the agreement, Daikin India will hold a majority stake in the venture. In the initial phase, the collaboration will focus on providing test samples of Rechi’s rotary compressors to Indian AC manufacturers, enabling quick adoption and evaluation, according to the release. “The JV includes plans to build a 33-acre manufacturing plant in Sri City, Andhra Pradesh,” it said.
The joint venture is expected to become operational by the fourth quarter of the current financial year.
Source: Daikin