The company has invested around Rs 700-800 crore for the plant
The electronic consumer durables manufacturing facility of Videocon Group in Manamadurai, at Sivaganga is likely to start operations in next three to four months, said Rajkumar Dhoot, managing director of Videocon Industries. The project has been proposed to complete with an investment of around Rs 1,600 crore.
Speaking to reporters in the sidelines of Vision Tamil Nadu,a seminar organised by Assocham, he said, “The plant would be ready for operations in next three to four months. We have so far invested around Rs 700-800 crore for the plant.”
The new facility would be manufacturing various consumer electronic products including washing machine, refrigerator and colour television.
There was some delay in completion of the project, due to the economic slow down and related issues. However, the works are on full pace now, he said.
The company would also look at exporting the products from the facility to overseas. It has identified demand in exporting electronic consumer durables to countries like Indonesia and Malaysia.
According to reports in 2009, the State Industries Promotion Corporation of Tamil Nadu, the government agency which allots land for industrial projects, has allotted around 70 acres to Videocon to set up the plant in Manamadurai. The company currently has a manufacturing facility in Hosur.
The company is the largest manufacturer of colour television in India and though the market for cathode ray televisions are shrinking, it still has shortage in supply in states like Tamil Nadu and Karnataka, said Dhoot. The Manamadurai plant would initially create employment opportunity for around 500-700 people.
Tata Motors-owned Jaguar today said it has launched the XKR special edition luxury sedan in India, priced at Rs 1.27 crore (ex-showroom, Delhi).