1. Chinese co Midea to invest Rs 800 crore for Pune plant

Chinese co Midea to invest Rs 800 crore for Pune plant

Placing India high in its scheme of things, Chinese appliance maker Midea today made public its plan to invest Rs 800 crore to set up a manufacturing facility in Pune. The unit will have a production line for appliances such as refrigerators, washing machines and water appliance products.

By: | Published: June 29, 2017 2:12 PM
The new facility will have the capacity to manufacture 5 lakh refrigerators, 6 lakh washing machines and 10 lakh water appliances. (Image: Reuters)

Placing India high in its scheme of things, Chinese appliance maker Midea today made public its plan to invest Rs 800 crore to set up a manufacturing facility in Pune. The unit will have a production line for appliances such as refrigerators, washing machines and water appliance products. Spread over 43 acres in Pune, the facility will employ 500 people and be operational by 2018-end.

“India is a key market in our global growth strategy and will be an important manufacturing hub in future,” said Midea Group Vice-President Andy Gu. He added: “Our investment is an example of Midea’s belief in the Indian market and reiterates our commitment to Make in India.”

The company has been investing in its Indian operations since 2013. The new facility will also provide export opportunity to the company, besides meeting domestic demand. It will have capacity to manufacture 5 lakh refrigerators, 6 lakh washing machines and 10 lakh water appliances.

Midea group’s part and component divisions GMCC and Welling will be setting up a manufacturing unit for compressors and motors for appliances.

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