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China's Haier inks pact to set up second industrial park in India
 
Date:2018-09-13  Source:Xinhua

Chinese leading home appliances brand Haier on Friday announced signing of a memorandum of understanding (MoU) with the government of India's northern state Uttar Pradesh, to set up its second industrial park.

Under the agreement, Haier will set up its industrial park in the state over the next four years in two phases.

The new industrial park, to come up nearly 30 miles away from New Delhi in Uttar Pradesh's Greater Noida area, is expected to begin operations by 2020.

This new investment is expected to create almost 4,000 new direct employment opportunities and over 10,000 indirect jobs.

The investment is aimed at scaling up the production capacity of Haier products across categories like refrigerators, washing machines, air conditioners and LED panels.

The expansion will serve as an opportunity for vendors and original equipment manufacturers, bringing about an expanded business with increased local production and lesser imports of products.

With this Haier has strengthened its commitment towards the Indian government's "Make in India" initiative to boost local manufacturing.

The MoU was signed between Uttar Pradesh chief minister Yogi Adityanath and Haier vice-president (global appliances) Song Yujun.

The new plant will have an annual production capacity of 2 million refrigerators, 1 million air conditioners, 1 million washing machines and 1 million LED TVs.

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