Haier India to invest Rs370 crore to expand manufacturing facility1 min read . Updated: 29 May 2015, 05:13 PM IST
The proposed investment will scale up manufacturing operations of the company in India by introducing new product lines
Mumbai: Haier India, a wholly owned subsidiary of Haier Group, on Friday announced an investment of ₹ 370 crore to expand its manufacturing facility at Ranjangaon, Pune. Haier Group, China signed a memorandum of understanding with the Maharashta government in this connection.
The proposed investment will scale up manufacturing operations of the company in India by introducing new product lines like washing machines, air conditio ners, LED panels, water heaters and deep freezers, apart from refrigerators. By 2017, Haier plans to increase manpower by 120% to 2,600 employees.
“At Haier Group, localization has been at the core of the business since its inception, which has helped the company gain market leadership in several countries. We are positive that this expansion opens multiple opportunity areas not just for Haier but also for our consumers, employees, dealers and other key stakeholders," said Eric Braganza, president, Haier India.