TN allots 70 acres to Videocon

The Videocon group led by its managing director Venugopal Dhoot met deputy chief minister MK Stalin here on Tuesday with regard to its proposed manufacturing unit in the state. The facility is being set up by Unity Appliances Ltd, its subsidiary.

According to an official press release, the new facility will employ around 1,000 people. The state government has allocated 70 acre of land at Manamadurai in Sivaganga district.

The greenfield plant would manufacture electronic appliances and components including TV, LCD and plasma display panels, refrigerators, washing machines, air-conditioners and even mobile phones, the release added.

Videocon has a refrigerator facility at the Sipcot complex in Hosur.

The company, which is a diversified global business conglomerate, gets 60 per cent of its $2.5 billion annual turnover from consumer durables. The remaining comes from the oil and gas sector.

The proposed investment will be one of the major investments in the state, which attracted Rs 15,000 crore during 2009.