Thermax Ltd has informed that the Company is setting up a plant in the Peoples Republic of China for manufacturing Absorption Chillers with an investment of USD 8.0 million.
The Company is setting up a subsidiary, i.e., Wholly Foreign Owned Enterprise (WFOE) in China, in the name of Thermax (Zhejiang) Cooling & Heating Engineering Co. Ltd by investing in its registered share capital. The WFOE has already receive license from the authorities concerned to commence business in China. This Subsidiary would cater to the requirements of Absorption Chiller market in China and also of other export markets.
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