Carrier India Managing Director Sundaresan Narayanan and Sri City Managing Director Ravindra Sannareddy exchange copies of the lease deed in the presence of Tirupati Collector S. Venkateswar at Sri City in Tirupati district on February 17, 2026. Photo: Handout
Carrier Air Conditioning and Refrigeration Limited has signed a lease deed with Sri City for establishment of a new manufacturing facility spread across 39 acres at Sri City industrial city in Tirupati district. The project entails an investment of ₹1,000 crore and will to create 1,000 direct and 2,000 indirect jobs.
Carrier India’s Managing Director Sundaresan Narayanan and Sri City’s Managing Director Ravindra Sannareddy formally exchanged copies of the lease deed in the presence of the Tirupati district Collector S. Venkateswar at a function on Tuesday (February 17, 2026).
Mr. Narayanan said the new facility would meet the rising demand for sustainable and energy-efficient commercial cooling solutions by integrating green manufacturing practices to generate local employment.
Mr. Sannareddy called the new investment as an endorsement of Andhra Pradesh’s robust industrial ecosystem and hoped that it would accelerate Sri City’s evolution into a globally competitive hub for advanced manufacturing.
Mr. Venkateswar reiterated the state government’s focus on ease and speed of doing business and also ‘speed of delivering governance’.
Published – February 17, 2026 11:18 pm IST
