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States » South

TCL to set up manufacturing unit with Rs 2200 cr investment in Tirupati

Tirupati (chittoor District), Dec 20 (UNI) Renowned manufacturer of consumer electronics goods TCL will set up its plant in Tirupati of Andhra Pradesh with an investment of Rs 2200 crore.
Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday laid the foundation stone for the world’s third biggest television panel manufacturing company’s unit, which will come up in 158 acres in Tirupati Electronics manufacturing cluster, in presence of IT Minister Nara Lokesh and TCL Chairman Li Dong Sheng.
The entry of TCL which is going to invest Rs.2200 Crore on the project, will make the place an electronic hub and TCL is expected to generate employment opportunities for as many as 8,000.
The company aims to establish the plant by December next year and begin its commercial operations.
The TCL representatives had arrived in India long back when Lokesh explained to them the opportunities for establishing IT and electronics manufacturing units, the concessions and incentives provided by the AP Government and other aspects.
He was in constant touch with TCL since then which now paved way for the electronics major's entry into the State.
Lokesh also notes that TCL has set itself an ambitious target of manufacturing 250 billion dollars’ worth consumer electronics in Andhra Pradesh ,out of the 500 bn dollars manufactured in India.
Speaking at on occasion, Naidu reiterated in his confidence in making Andhra Pradesh as the Hardware and Electronic Hub for India.
He said “With the advent of Micro Soft, Hyderabad has become a Software and Knowledge Hub and Today, with TCL. Tirupati is going to become Hardware and Electronic Hub”.
He said “TCL would help Andhra Pradesh in capitalising the manufacturing potential by creating an excellent eco system here at Tirupati.
Already, several top companies have arrived in Andhra Pradesh and as many as 15,000 women are working in Foxconn alone and the State has grown to the level of producing 30 per cent of the mobile phones manufactured in India.
Besides, Reliance Jio is establishing one of its major units in Andhra Pradesh with an investment of Rs.15, 000 core and providing jobs for 20,000, the CM said.
A Reliance Jio Electronics Park is being set up on 150 acres in Tirupati and the foundation stone for this unit will be laid shortly, he added.
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