Wednesday, February 19, 2014: Owing to unprecedented demand in the increasingly market driven country like India, Consumer appliances and electronic goods maker Haier is in talks to come up with a new plant in Northern India. The exact location for the plant has not been finalised yet, however, it is expected to entail an investment of Rs 1000 million and will commence development soon after it completes ongoing expansion at its Pune plant by May 2015.
“We are planning for a new manufacturing plant in the Northern region. We would take up this new project after May 2015 when we would finish our expansion plan in Pune,” Haier India President Eric Braganza was quoted by PTI as saying. “We have not decided on any location in North. It would depend on what kind of incentives we are going to get and what would be the government’s policy at that time,” he added. The new plant would manufacture washing machines and air conditioners. Meanwhile, Haier is also mulling over a third plant for the Southern region after 5 to 6 years.
The need for ‘new’ plants comes in the wake of Hair’s expansion plan aimed at tapping the full potential of the huge Indian market. “This year we aim to have a business of Rs 20000 million with a growth of 33 per cent. Last year, the company had a turnover of Rs 1503o million,” Braganza further said.
