Haier inks pact with Uttar Pradesh to set up Rs 30 billion plant

Haier inks pact with Uttar Pradesh to set up Rs 30 billion plant

Haier has inked a memorandum of understanding with the Uttar Pradesh government for a 123-acre land parcel to set up its Rs 30.69 billion industrial park at Greater Noida.

The new facility would help the Chinese consumer durables maker to expand its market share and reach in India.

The company would invest the entire amount over the next four years in two phases and the production would start by mid of 2020 from this proposed unit.

Haier India president Eric Braganza was quoted as saying by PTI: “Total investment in this project would be Rs 3,069 crore. This would be spread over four years in two phases and generate a direct employment of 4,000 persons.”

He added: “This would be the largest industrial park in our industry.”

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