# Voltas signs JV with Highly International to make inverter compressors in India

Voltas Ltd executed a joint venture agreement on April 30, 2022 with Highly International (Hong Kong) to manufacture inverter compressors, motors and parts in India. Highly International will hold 60 percent, and the JV will have Rs 250 crore of equity capital. Completion is subject to approvals including Press Note 3 clearance.

- Type: Acquisition
- Announced: 2022-05-02
- Where: India
- Value: $32.0M (2.50B INR)
- Status: announced
- Products: inverter compressors, motors for inverter compressors, compressor parts
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Highly International](https://endata.com/companies/7546.md) (partner)
- [Voltas](https://endata.com/companies/9194.md) (partner)

## Sources

- [business-standard.com](https://www.business-standard.com/article/companies/voltas-signs-jv-pact-with-highly-international-to-manufacture-compressors-122050201116_1.html), 2022-05-02: "to engage in the business of design, development, manufacture, marketing, sale and service of inverter compressors"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.