Comments
Consumer appliances and electronics goods maker Haier India has signed an MoU with Uttar Pradesh government to set up its second manufacturing facility in India.
Under the agreement, Haier will invest ₹3,069 crore to set up industrial park over the next four years in two phases. The company said that this investment is aimed to scale up the production capacity of its products across categories including refrigerators, washing machines, air conditioners and LED panels. Spread across 123 acres at the Integrated Industrial Township Greater Noida Ltd, it is expected to begin operations by 2020.
“The new plant will have an annual production capacity of 2 million refrigerators, 1 million Air Conditioners, 1 million Washing Machines and 1 million LED TVs,” the company said in a statement.
Eric Braganza, President, Haier India, said this was in line with the company’s commitment to the ‘Make in India’ initiative. “The new facility will not only help in augmenting our production capacity to address the increasing local demand but also in generating employment opportunities in the State. This agreement will enable us to further strengthen our presence and commitment in the country,” he added.
Added Song Yujun, V-P, Global Appliances Haier Group and Managing Director, Haier Appliances India, “ India is a dynamic and important market for the Haier Group and our investment trajectory in the country is a testimonial to the same. Setting up a new manufacturing unit will not only help us build a better presence in the country, but will also enable us to innovate more for our Indian customers with solutions that complement their evolving lifestyles.”
Haier India had first started manufacturing refrigerators in India in 2007 in Ranjangaon, Pune. This facility was further expanded into the company’s first industrial park in India and inaugurated in November last year. The Chinese major currently has an annual production capacity of 1.8 million units of refrigerators and 0.5 million units each of other categories such as washing machines, air conditioners, LED TVs and water heaters.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.