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Business Economy


Panasonic Life Solutions to set up its new manufacturing facility in AP with Rs 600 cr investments

Hyderabad, Jan 25 (UNI) Panasonic Life Solutions India (PLSI), a wholly-owned subsidiary of Panasonic Corporation, on Monday announced the groundbreaking ceremony of its new manufacturing facility in Sri City (Chittoor district), Andhra Pradesh and will commence its operations of manufacturing the electrical appliances by April, 2022.
We are planning to invest INR 600 crore in II phases for the new facility, which will be India’s eighth electrical equipment material production base in India, followed by facilities in the North and West regions, the company said in a release here on Monday
The facility will include a state-of-the-art assembly line of the electrical equipment materials and wiring devices offered by the company.
The company had earlier announced Investment of INR 294.7 crore in phase I and expansion plans to support the infrastructure and increase production capacity in India.
Through this facility, which will be built over 33 acres of land at Sri City, Industrial Park, aims to provide direct employment to at least 600 people in Andhra Pradesh by the year 2022.
Due to the pandemic scenario, the new unit will now commence its operations of manufacturing the electrical appliances by April 2022.
Talking on the occasion Mr. Tetsuyasu Kawamoto, Managing Director, Panasonic Life Solutions India Pvt.Ltd. said, “India is growing exponentially in terms of housing development and, the real estate market, especially in Andhra Pradesh will witness a paradigm shift in the post-pandemic era. The new facility in Sri City, once completed, will help us significantly scale up our productions in India and generate employment opportunities for the locals in Andhra Pradesh.
With a strong commitment towards the government’s vision of ‘AatmaNirbhar Bharat’, the completion of this land will assist in strengthening our relations with the Government of Andhra Pradesh”, he added.
In India, Panasonic Life Solutions has factories in Haridwar which are equipped to cater to the demands of the North, and the factories in Daman and Kutch which cater to the Western markets.
UNI KNR SHK2040
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