Italy's Sistem, Bin Daen of UAE to invest Rs. 1,500 crore in India.

Sistem-Air of Italy in collaboration with UAE-based Bin Daen Group will be investing over Rs. 1,500 crore in the next two financial years in India.

This was informed by Fabrizio Borloni, Global Export Head of Sistem-Air, while talking to reporters here.

A part of the Rs. 1,500 crore investment will be used to set up a centralised vacuum system (CVS) assembling plant near Hyderabad, he said.

The unit will cater not only to Indian requirements but also other Asian markets, he said.

A central vacuum cleaner is an appliance installed into a building as a semi-permanent fixture.

Roberto Plebani, Global Vice-President (Technical) Sistem-Air said his company intends to focus on Hyderabad market because of its high potential in real estate industry.

The company intends to invest over Rs. 600 crore purely in Telangana, he said.


ET