Haier signs pact to set up second industrial park in India, operating by 2020

Source:Xinhua-Global Times Published: 2018/9/9 20:38:40

Leading Chinese home appliances brand Haier on Friday announced the signing of a memorandum of understanding with the government of India's northern Uttar Pradesh state to set up its second industrial park in the nation.

The park will be established over the next four years in two phases in an area in Uttar Pradesh's Greater Noida area. It is expected to begin operations by 2020.

The investment is expected to create almost 4,000 new direct employment opportunities and more than 10,000 indirect jobs.

The investment is aimed at scaling up the production capacity of Haier in categories like refrigerators, washing machines, air conditioners and LED panels.

The plant will have annual production capacity of 2 million refrigerators, 1 million air conditioners, 1 million washing machines and 1 million LED TVs.

The expansion will serve as an opportunity for vendors and original equipment manufacturers, bringing about an expanded business with increased local production and fewer imports.

With this move, Haier has strengthened its commitment toward the Indian government's "Make in India" initiative to boost local manufacturing.

The deal was signed between Uttar Pradesh Chief Minister Yogi Adityanath and Haier vice-president (global appliances) Song Yujun.

"India is a dynamic and important market for the Haier Group. Setting up the 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," he said.

Posted in: COMPANIES

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