Haier, the global leader in Consumer Electronics has signed a Memorandum of Understanding (MOU) with UP Government to set up its second industrial park in India, in Greater Noida.
Under the agreement, Haier will invest Rs.3069 crore for setting up its industrial park in the state over the next four years in two phases.
With this development, the company is expected to create almost 4000 new direct employment opportunities along with over 10,000 indirect jobs and the expansion will serve as an opportunity for vendors and OEMs, bringing about an expanded business with increased local production and lesser imports of products, the company said.
The new plant will have an annual production capacity of two million refrigerators, one million Air Conditioners, one million Washing Machines, and one million LED TVs.
The investment is aimed to scale up the production capacity of Haier products across categories like refrigerators, washing machines, air conditioners and LED panels.
Eric Braganza, President Haier India expressed, "In line with our commitment to the Central Government's 'Make in India' initiative, we are delighted to announce the second industrial park in the country. We're grateful for the support extended by the Government of Uttar Pradesh which has contributed hugely in the fruition of this milestone. The new facility will not only help in augmenting our production capacity to address the increasing local demand but also in generating employment opportunities in the state. This agreement will enable us to further strengthen our presence and commitment in the country."
The MoU was signed in the presence of the Chief Minister of Uttar Pradesh, Yogi Adityanath and other dignitaries from the Government of Uttar Pradesh.
Song Yujun, VP, Global Appliances Haier Group and Managing Director, Haier Appliances said, "Setting up a 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."