New Delhi: Midea Group, a Fortune 500 company, today announced plans to invest ₹ 800 Crore to set up a manufacturing facility near Pune. The company will acquire 43 acres of land in Supa Parner Industrial Park II. Mr. Andy Gu, Vice President, Midea Group, made the announcement of a greenfield manufacturing facility for consumer Home Appliances and components. The products manufactured at the plant will cater to Midea Group’s operations in India as well as others. The facility will also evaluate export for Midea Group to other distribution locations.
In line with Prime Minister Narendra Modi’s ‘Make in India’ vision, Midea Group has earmarked an investment of ₹ 800 Crore for the new facility which is expected to generate 500 jobs over 5 years. The state of the art, greenfield manufacturing facility will have a dedicated R&D centre which will design, develop and test products for the Indian market. The new facility is expected to commence commercial operations by end 2018 and is an exemplary showcase of Midea Group’s long-term commitment to the Indian market.
Mr. Andy Gu, Vice President, Midea Group, said “We are extremely happy to begin work for expanding our base in India. India is a key market in our global growth strategy and will be an important manufacturing hub in the future. Our investment is an example of Midea’s belief in the Indian market and reiterates our commitment to ‘Make in India’. The new home appliances manufacturing plant in India will enable us to offer “Designed in India” product solutions to our valued customers.”
“This manufacturing plant will further support our focus to accelerate our business and establish Midea as a significant player in the home appliance market in India.”
The highlights of the new facility will be:-
§ Production lines for home appliances including Refrigerators, Washing Machines and Water Appliance products.
§ The plant will have a capacity to manufacture Five Lakh refrigerators, Six Lakh washing machines and Ten Lakh Water Appliances products.
§ In addition Midea Group’s Parts & Components Divisions GMCC and Welling will also be setting up exclusive manufacturing facilities to manufacture Compressors & Motors for Appliances
§ Stringent environment and safety standards will be used to ensure that the India manufacturing facility is at par with global operating standards.