Carrier India CEO Sundaresan Narayanan and Sri City Managing Director Ravindra Sannareddy exchange copies of the lease agreement 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 agreement with Sri City to set up a new 39-acre manufacturing facility at Sri City Industrial City in Tirupati District. The project involves an investment of ₹1,000 crore and the will to create 1,000 direct and 2,000 indirect jobs.
Carrier India CEO Sundaresan Narayanan and Sri City Managing Director Ravindra Sannareddy formally exchanged copies of the lease agreement in the presence of Tirupati District Collector S. Venkateswara at a function on Tuesday (February 17, 2026).
Mr Narayanan said the new facility would meet the growing demand for sustainable and energy efficient commercial refrigeration solutions by integrating green manufacturing practices to create local employment.
Mr. Sannareddy called the new investment an affirmation of Andhra Pradesh’s robust industrial ecosystem and hoped it would accelerate Sri City’s evolution into a globally competitive advanced manufacturing hub.
Mr. Venkateswar reiterated the state government’s focus on ease and speed of doing business as well as “speed in delivery of governance”.
Published – 17 Feb 2026 23:18 IST