New Delhi | Consumer electrical goods maker Havells India Ltd on Tuesday said it will invest Rs 480 crore to set up a facility for manufacturing refrigerators at Ghiloth in Rajasthan.

The company, which had in August last year stated that it was exploring the possibility to set up a new facility to manufacture refrigerators in Ghiloth, said it has "now decided to set up the facility" at the place.

The new manufacturing plant is proposed to have a capacity of 14 lakh units, Havells India said in a regulatory filing.

The investment required is approximately Rs 480 crore and the proposed capacity is expected to be added by Q2FY27, it said, adding the investments would be funded through internal accruals.

The rationale behind setting up of the new facility is "to reap the benefits of backward integration and economies of scale", the company said.