Hyderabad, Sep 25 (UNI) Ice Make Refrigeration Limited, a leading supplier of innovative cooling solutions and manufacturer of refrigeration equipment in India, on Sunday announced to invest up to Rs 50 crore as part of its expansion plans.
The significant expansion plans were decided in the Annual General Meeting , the company said in a release.
During this financial year 2022-2023, the Company is planning for the CAPEX in the Greenfield project of around Rs. 45 to 50 Crores in the refrigeration continuous penal business.
The Continuous Panels are used in the area like infrastructure, industrial & residential building.
The project will be set up near Ahmedabad, Gujarat and it will be fully functional in the next 12 to 15 months.
Mr. Chandrakant P. Patel, CMD, Ice Make Refrigeration Limited said “. The project will further strengthen the business growth of the Company. Our strategic priorities for FY 2022-23 also include focus on increasing top-line margins and ensuring a consistent growth of 25- 30 percent. Additionally, the Company is also looking for opportunities to expand geographically, by setting up a stock point or a small manufacturing unit to save logistics cost.
Ice Make’s equipment product range also includes ice cream mix preparation for small and medium scale, specially designed mix plant units. Its chiller product range includes Air Cooled Chiller, Water Cooled Chiller, Liquid Chiller, Brine Chiller, and Screw Chillers.
UNI KNR GK