Chinese electronics company TCL Electronics Holding Limited has decided to set up a ₹225-crore facility to manufacture washing machines. The company has entered into a memorandum of understanding (MoU) with its Indian collaborator Resojet to set up a joint venture.
This is going to be the first overseas manufacturing facility for Hefei (China)-based TCL Electronics.
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The new facility, which will come up at the E-City at Raviryal in Hyderabad, will start off with washing machines. “It will later be expanded to manufacture refrigerators, dishwashers, and electronics goods,” a senior Telangana IT Ministry official said.
In the first phase, the facility will create employment for 500 people.
“This investment is a testament to the State’s efforts towards creating a conducive ecosystem for high technology manufacturing and reinforces Telangana’s position as a frontrunner in electronics manufacturing in the country,” K T Rama Rao, Telangana Minister for IT and Industries, said.
The MoU was signed in the presence of the Minister on Wednesday.
Stating that the Government was targeting to transform the State as the Shenzhen of India, the Minister invited TCS Group Chief Executive Officer Juan Du and the TCL team to visit Telangana to have a feel of its infrastructure and ecosystem.