Haier inks pact with UP govt to set up 2nd industrial park in Greater Noida
New Delhi, Sept 8 (KNN) Expanding its roots in Uttar Pradesh, Haier, a multi-national company, has signed MoU with the Uttar Pradesh government to set up its second industrial park in India at Greater Noida.
A global leader in home appliances and consumer electronics is expected to invest Rs 3,069 crore in the Greater Noida industrial park.
The MoU was signed in the presence of Chief Minister Yogi Adityanath, Haier Appliances India Limited managing director Song Yujun and other officials of the company and dignitaries of the UP government.
As per the MoU, Haier will invest Rs 3,069 crore for setting up its second industrial park in the state over the next four years in two phases.
The proposed industrial park will be located at Integrated Industrial Township Greater Noida Ltd and the facility will cover an area of 123 acres.
The company is expected to begin its operations by 2020.
With this development, the company is expected to create around 4,000 new direct employment opportunities along with over 10,000 indirect jobs.
The company aims to scale up its production capacity of products across various categories like refrigerators, washing machines, air-conditioners and LED panels.
The expansion of the manufacturing facility by the company will serve as an opportunity for vendors and OEMs (original equipment manufacturers) and bring about an expanded business with increased local production and lesser imports.
Industrial Development Minister Satish Mahana said that UP is the largest domestic market in India.
He said in consumer electronics segment, UP is the largest exporter and the establishment of Haier plant at Greater Noida and would add to an array of existing reputed firms of electronic manufacturing in Noida and make it a global cluster of electronic manufacturing.
“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.
Haier India, President, Eric Braganza, said that this was in line with the company’s commitment to the ‘Make in India’ initiative.
He said “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.”
New Delhi, Mar 29 (KNN) India’s overall exports, that includes services and merchandise exports,…
New Delhi, Mar 28 (KNN) For the fiscal year starting from April 1, 2023,…
New Delhi, Mar 28 (KNN) The Central Board of Trustees (CBT), EPF on Tuesday…
New Delhi, Mar 22 (KNN) Despite a modest recession in the US and Europe,…
New Delhi, Mar 21 (KNN) In the fiscal year 2022-23, India’s economy is expected…