Publication: Hindu Business Line

NEW DELHI: Godrej & Boyce will invest Rs 100 crore to set up a refrigerator manufacturing facility near Pune and expects to clock a turnover of more than Rs 1,000 crore in the current fiscal.

"We would invest Rs 80-100 crore to set up a new frost-free refrigerator manufacturing facility which would double the existing capacity for the product," Godrej & Boyce Chief Operating Officer, Mr George Menezes, told reporters here.

The company has a present capacity of 3.5 lakh frost-free refrigerators per annum and the new facility, to be operational by late-2007, would take up its annual capacity to about seven lakh units, he said.

Godrej & Boyce, which launched its new range of frost-free refrigerators today, controls 12 per cent of the domestic market share. It plans to double it within six months to 25 per cent with the launch of the new range.

The two models with different capacities have been priced in between Rs 16,000 and Rs 26,000, he added.