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.

Image Credit : livemint.com

Research Desk

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