Panasonic to invest about Rs 1,150 cr in Jhajjar plant

Posted on January 18, 2012. Filed under: Uncategorized |

Panasonic to invest about Rs 1,150 cr in Jhajjar plant

New Delhi, Jan 12 (PTI) Electronics major Panasonic will invest USD 220 million (about Rs 1,150 crore) in a plant, which would produce ACs, washing machines, refrigerators and other electronic items, to be set up at Jhajjar, Haryana. Panasonic India President Daizo Ito, who met Haryana Chief Minister Bhupinder Singh Hooda today, said that the plant would be set up over 76 acres in the Model Economic Township at Jhajjar and will also function as headquarter office of the company for India. While in the first phase, the company would set up plant for the manufacture of air-conditioners, washing machines and welding systems, R&D Centre and facilities for making refrigerators, automotive systems, flat panel TVs, microwave oven and other electronic components, would be set up in the second phase. The company intends to invest about USD 120 million in the first phase and more than USD 100 million in the second phase. “The units would provide employment to 1,500 persons in the first phase and more than 2,000 persons in the second phase,” a Haryana government release said. With the setting up of this plant, the company would not have to import air-conditioners, washing machines and welding systems. The company has been importing electronic appliances from Malaysia and Thailand.

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