Mumbai, Sep 24 (PTI) Cooling solutions manufacturer Ice Make Refrigeration on Saturday said it is planning to set up a greenfield manufacturing unit in Gujarat at an investment of around Rs 50 crore.

"We are in the process of evaluating various sources of finance for our investment plan of Rs 45-50 crores to set up a greenfield manufacturing unit. We are also looking at opportunities to expand geographically by setting up small manufacturing units to save logistics cost," Ice Make Refrigeration CMD Chandrakant P Patel said in a statement.

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The greenfield project is expected to be fully operational in the next 12-15 months, he said while addressing the company's annual general meeting.

Besides manufacturing refrigeration equipment, the company's chiller product range also includes air cooled chiller and liquid chiller, among others.

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"Our strategic priorities for this financial year include focus on increasing top-line margins and ensuring a consistent revenue growth of 25-30 per cent," he added.

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