Business Wire India
- HPL is a joint venture between Hindware Home Innovation Limited and Groupe Atlantic, a 3 billion Euro company
- The state-of-the-art facility has been developed at an initial investment of INR 210 crore and will export products to Bangladesh, Bhutan, Nepal, and Sri-Lanka in the SAARC region
- Mr. Sandip Somany, Chairman, Hindware Home Innovation Limited, Mr. Pierre-Louis François, CEO, Groupe Atlantic and Mr. Eric Fajole- Trade Commissioner- Embassy of France in India inaugurated the plant
Spanning 5.7 acres, with an initial investment of INR 210 crore, the facility has the capacity to produce six lakh units of water heaters and heating appliances annually and will generate employment for over 500 people directly and indirectly. The plant is built on an environmentally friendly design that utilizes advanced energy saving manufacturing equipment and renewable energy sources.
The opening ceremony was attended by Mr. Sandip Somany- Chairman, Hindware Home Innovation Limited, Mr. Pierre-Louis François- CEO, Groupe Atlantic and Mr. Eric Fajole- Trade Commissioner- Embassy of France in India. Additionally, other senior executives from Groupe Atlantic, strategic partners, and stakeholders were also present during the ceremony.
HPL is set to become a force to be reckoned with since the plant will also support the export of products to neighbouring countries in the SAARC region including Bangladesh, Bhutan, Nepal, and Sri Lanka. The production at the plant begins with square moulded and cylindrical storage water heater models ‘Alivio’ and ‘Ezro neo’ respectively. The first portable water heater ‘Kweik’ by Hindware Atlantic is also being manufactured in the same plant.
As per the latest industry reports*, currently, the water heater market in India is INR 2300 crore and is expected to grow to around INR 6100 crore by FY2032 owing to a rise in the adoption of personal electric water heaters in India, rapid urbanization, widespread availability of energy and rising disposable incomes. In addition, there is a rise in the demand for premium home appliance products among the key metros in India. The set-up of the plant brings the company one step closer to fulfilling its ambition to further gain market share in the water heater segment and be in the top three players over the next five years.
Mr. Sandip Somany, Chairman, Hindware Home Innovation Limited, said, “This plant is the key aspect of our joint venture with Groupe Atlantic and we are happy to commence production despite the challenges faced due to the pandemic. With the opening of the new manufacturing plant, we are confident to optimally increase our market share, and further strengthen our position in the water heater segment.”
Mr. Pierre-Louis François, CEO, Groupe Atlantic said, “We first met with Hindware more than 10 years ago, and today we are happy to take our partnership with them to the next level to create this integrated water heater company. Both Groups share the same industrial and family values and from the start of our operations in India, we knew that to succeed in such a huge and great country like India, we needed a strong local partner and that it was a must to manufacture in India.”
He further added, “We also think that it becomes relevant to master the component technologies and therefore we are bringing our knowledge regarding energy management and temperature regulation to India. We believe this will be a big asset for our Indian development and contribute to reducing the energy consumption with low carbon thermal products.”
The plant has been developed taking into consideration the criteria of sustainability and energy efficiency. The building is as per Indian Green Building Council (IGBC) norms and qualifies for green building certification. It has been equipped with solar panels with a total annual output of approximately 1 Mega Watt. Not only this but all artificial lighting at the plant is guaranteed by a system that exclusively uses LED lamps. The plant also includes an underground rainwater storage tank which guarantees the recovery of 90% of the rainwater to be reused internally at the plant itself. Together with the use of harvested rainwater, greenbelts, and solar power, the plant will utilize renewable energy in its operation.
Having a dominant presence in manufacturing, developing, and distributing eco-friendly thermal solutions and products, Groupe Atlantic will be supporting HPL with technological expertise to produce best-in-class heating appliances.
(*Source: World Bank, GFK Market Intelligence)