Videocon to invest 5 billion in Andhra facility
HYDERABAD: The investment will be made in the next five years, it was announced Tuesday night at the inauguration of Millennium Appliances India Ltd., the production facility at Hardware Park at Imarat Kancha village, 35 km from here.
Videocon, a 45 billion company, invested 2 billion in the integrated manufacturing facility for a range of consumer durables and components.
The facility has started production of consumer electronics and home appliances ranging from colour televisions, VCD/DVD players, hi-fi audio systems and dishwashers to washing machines, refrigerators and air conditioners.
The unit will produce 400,000 colour television sets, 250,000 refrigerators, 250,000 washing machines, 100,000 dishwashers and 100,000 micro ovens each year.
V.N. Dhoot, chairman of Videocon International, said the production facility had come up in a record time of nine months.
Spread over 125,000 square feet, it will provide direct employment to 800 people and indirect employment to about 3,000.