The industrial park will be set up in Greater Noida, Uttar Pradesh.
Haier, the global leader in Home Appliances & Consumer Electronics, has signed a Memorandum of Understanding (MoU) with The Government of Uttar Pradesh to set up its second industrial park in India. The industrial park will be set up in Greater Noida, Uttar Pradesh.
With this development, Haier has strengthened its commitment towards the central government’s 'Make in India' initiative to boost local manufacturing.
Under the agreement, Haier will invest Rs 3069 crore for setting up its industrial park in the state over the next four years in two phases. With this development, the company is expected to create almost 4000 new direct employment opportunities along with over 10,000 indirect jobs. The expansion will serve as an opportunity for vendors and OEMs, bringing about an expanded business with increased local production and lesser imports of products.
The facility is sprawled over an area of 123 acres and is expected to begin operations by 2020. The investment is aimed to scale up the production capacity of Haier products across categories like refrigerators, washing machines, air conditioners and LED panels. 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.
Eric Braganza, President at Haier India, said, "In line with our commitment to the Central Government's 'Make in India' initiative, we are delighted to announce the second industrial park in the country. 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."
Song Yujun, VP at Global Appliances Haier Group and Managing Director at Haier Appliances India, said, "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. We are thankful to the Government of Uttar Pradesh for extending all the support to participate in the development of the state."