China’s Midea to invest Rs 800 crore in India

Chinese appliance maker Midea has revealed its plan to invest Rs 800 crore to set up a manufacturing facility in Pune.

Spread over 43 acres in Pune, the facility will employ 500 people and be operational by 2018-end, according to the company.

The unit will have a production line for appliances such as refrigerators, washing machines and water appliance products.

Midea Group Vice-President Andy Gu.said, “India is a key market in our global growth strategy and will be an important manufacturing hub in future.”

Also, Midea would set up an R&D centre, which will develop India specific products, and invest into manufacturing of key components as compressors and water pumps through group’s parts and components divisions GMCC and Welling at Pune.

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Research Desk

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