VVDN to invest ₹500 crore in TN plant
The plant will house more than 1,000 engineers that currently work from a temporary premises in Pollachi, and will manufacture more than a million product units a month
PremiumNEW DELHI : VVDN Technologies, a global provider of product engineering and electronics manufacturing services, will invest about ₹500 crore over the next three years, chief executive officer Puneet Agarwal said. The company will spend the money to expand its production capacity in India with a second plant in Tamil Nadu, housing at least 1,000 engineers.
The company currently has six manufacturing plants in Manesar, Gurugram that make more than a dozen products such as hearables, IoT devices, laptops, dashcams, EV chargers and sensor modules for smart home appliances, including equipment for 5G networks.
The Gurugram-headquartered company which has partnered with C-DoT for designing and developing the country’s first indigenous 5G non-standalone core, has taken up 100 acres in Pollachi, Coimbatore to set up manufacturing across product categories. The Indian government has also asked VVDN to make standalone or SA 5G core.
“By end of next year, we will have our captive facility which will be the largest in Asia. It will have production across product lines, including SMT (surface mount technology) mechanical factories, PCBA fab and product assembly as well. Over the next three years, we’re looking to invest ₹500 crore," Agarwal said in an interview.
The plant will house more than 1,000 engineers that currently work from a temporary premises in Pollachi, and will manufacture more than a million product units a month. The plant will also help faster exports as it is situated close to a seaport.
Agarwal said the company was looking at revenue of $300-400 million for FY23, which will be a growth of over 100% over FY22.
Having applied for production-linked incentive (PLI) scheme in telecom, IT, automotive white goods and IoT, Agarwal said VVDN was also looking at entering the semiconductor design space and will consider applying for the Design Led Incentive (DLI) scheme being offered by the government.
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