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Business EconomyPosted at: Jun 29 2017 2:54PM


Midea Group to invest Rs 800-cr to setup manufacturing facility in India

New Delhi, Jun 29 (UNI) Midea Group, a Fortune 500 company, today announced plans to invest Rs 800-crore to set up a manufacturing facility in India.
The Chinese Company will acquire 43 acres of land in Supa Parner Industrial Park II near Pune, Maharashtra to set up its factory for the production of home appliances and components.
Announcing the investment plan, Andy Gu, Vice President, Midea Group said that 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.

He said, “In line with Prime Minister Narendra Modi’s ‘Make in India’ vision, Midea Group has earmarked an investment of Rs 800-crore for the new facility which is expected to generate 500 jobs over five 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,” he said.

He 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 upcoming factory will produce 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 Midea Group, a leading global player in consumer appliances, Heating, Ventilation and Air Conditioning (HVAC) systems, and robotics and industrial automation systems. Midea offers diversified products, comprising of consumer appliances (Kitchen Appliances, Refrigerators, Laundry Appliances, and various Small Home Appliances) and robotics and industrial automation.

Founded in 1968 in Guangdong, China, Midea has now established a global platform of more than 200 subsidiaries, over 60 overseas branches and 10 strategic business units, as well as being the majority shareholder of Kuka (95 per cent shareholding).

The sales revenue of Midea was nearly 24 Billion dollar in 2016. Midea has hundreds of millions consumers, major customers in different areas, strategic partners worldwide and about 130,000 employees in total.
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