Air-conditioning and commercial refrigeration company Blue Star Ltd would finalise the land to set up a manufacturing unit in the Southern region, which would see investments of about ₹150 crore, a top company official said here today.

“We are very clear to have our project in the South.

Actually, our target to finalise the land is by September. May be we will sign up it by May or June”, Blue Star Ltd Executive Director and President, Air-conditioners and Refrigerator business, B Thiagarajan told reporters here.

Asked about the proposed investments, he said it would be around ₹150 crore for a manufacturing unit with a half a million capacity on a 50 acre land.

On whether the company has identified locations, he said Andhra Pradesh was one of the states shortlisted for its better connectivity.

Thiagarajan, who was speaking after launching a new range of air-conditioners here, said the company was eyeing double digit growth in the room air conditioners segment.

“Currently our market share in room air conditioner segment is nine per cent. We are looking at double digit market share. May be around 11 per cent. Last year the room air-conditioners industry grew by 10 per cent in volume terms and in value terms it was 19 per cent”, he said.

To a query on funds for marketing campaign, he said the company has alloted ₹35 crore in this regard for new range of air-conditioners for the period 2015-16.

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