Intex investing Rs 1,500 crore in Greater Noida plants

First phase investment of Rs 650 cr already injected

Homegrown consumer electronics major Intex Technologies is investing Rs 1,500 crore in its Greater Noida plants of Uttar Pradesh to expand capacity across different assembly lines.

So far, Rs 650 crore of this planned investment has already been injected in phase I and the production is likely to start by July 2017, Intex Technologies Head (retail) Vishal Malik told Business Standard here. The manufacturing units are spread over 2 million sq ft.

He informed the company would invest the remaining portion of the projected investment in the next 2-3 years. The plant would manufacture a range of products, including mobile phones, chargers, battery etc, he informed.

Besides, the company is also investing Rs 200 crore in its new air conditioning (AC) plant in Greater Noida.

The company, which had originally started as a mobile phone manufacturer, is gradually diversifying into electronics consumer durables spanning AC, washing machines, air purifiers, currency counting machines etc.

Intex has three manufacturing units in Greater Noida, apart from factories in other parts of the country. "The fresh investment in our Greater Noida plant is projected to generate fresh employment opportunities to the tune of about 3,000," Malik added.

He said UP was the biggest market for Intex and contributed 15 percent or almost Rs 1,000 crore to its current revenue of Rs 6,200 crore, compared to about Rs 4,000 crore in 2015-16. Malik was in town to launch the new range of Intex ACs in the UP market.

At present, mobile phones and consumer durables account for roughly 75 percent and 25 percent of Intex's revenue, which the company is eyeing to reverse to 25 percent and 77 percent respectively in the next 2 years.

In UP, Intex has a network of about 12,000 and 26 retail touch points and exclusive stores, which is targetted to be more than doubles in the current 2017-18 fiscal.

Besides, Intex is imparting skill development training to youth in the state. Last year, it had signed a Memorandum of Understanding (MoU) with UP Skill Development Mission (UPSDM) for skills training in mobile/IT products manufacturing (assembly, testing, packing, sales, service and repair).

Intex has undertaken to provide 'employable' skills training to 2,500 unemployed and underprivileged youth in UP over a 3-year period. During the first year, Intex will train over 500 youth in the age group of 14-35 years at its Noida plants.

The MoU was aimed at creating a pool of skilled manpower, uplifting individual development and ultimately contributing to the overall economic development in the region.

Under the MoU, Intex would set up training centres in Noida, develop course modules, create awareness, mobilise aspirants to undertake skill development training and forge linkages with potential employers for providing placement opportunities for minimum 80 percent candidates upon successful completion of training.