Goldmedal Electricals has decided to set up a unit to make fans and home appliances in Hyderabad with an investment of Rs 125 crore.
A Vijayawada-based four-decade-old company, Goldmedal Electricals is into the manufacture of a range of electrical goods.
The Mumbai-headquartered company is in the process of evaluating locations on the outskirts for the plant that will require 3 or 4 acres.
Speaking to the media, Goldmedal’s Directors Kishan Jain, Praveen Jain and Bishan Jain said Sangareddy district was a likely choice for the proposed plant.
The initial production will commence in a year, but the plant will be completed in three years, they said.
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