Havells India, electrical equipment manufacturing company, is looking forward to strengthen its product portfolio by foraying into refrigerators segment under Lloyd brand.

Havells had acquired consumer durable brand Lloyd around two years back. The brand currently has home appliances such as washing machines, air-conditioners, LED TVs and deep freezers.

The company has also earmarked investment to the tune of Rs 1,000 crore over the next few years to strengthen its product portfolio and strengthen its manufacturing facilities.

Of the total, nearly Rs 400 crore will be towards setting up of a greenfield facility for Lloyd air-conditioners in Rajasthan. The plant will have a capacity to produce six lakh ACs a year. It is expected to commence commercial production in a couple of months.

The remaining Rs 600 crore will be on brownfield expansions across several India plants. The funding for greenfield and brownfield projects will be done through internal accruals.

Apart from this, the company will also pour around Rs 400 crore on brand building exercise.