V-Guard Industries is planning to set up two more manufacturing units, one for water heaters and another for manufacture of fans. The water heater plant is likely to see investment of about Rs 65 – 75 crore, while the fan unit will cost between Rs 35 crore and 40 crore.
The company is evaluating locations in several States, including Telangana for setting up of these plants. The company has also about 25 acres in Tamil Nadu. The decision on the new plant will be taken by next year.