Haier holds groundbreaking ceremony for industrial park in Greater Noida

Home appliances brand Haier India Friday said it held the groundbreaking ceremony of its second industrial park at Greater Noida in Uttar Pradesh set-up with an investment of Rs 3,069 crore.

With this investment, Haier India aims to scale-up the production capacity of appliances such as refrigerators, washing machines, air conditioners, LED panels, and water heaters.

The ceremony comes after the company had signed a memorandum of understanding with Uttar Pradesh government in September 2018 to invest Rs 3,069 crore over the next three years in two phases, the company said in a statement.

This second industrial park of the company will have a capacity to produce two million units of refrigerators, one million units of LED TVs, one million units of washing machines and air conditioners in a year when fully completed, the company added.

India is a big market for the company and it would like to continue investing here in manufacturing and simultaneously design technological innovations specifically for Indian consumers, Song Yujun, VP, Global Appliances Haier Group and Managing Director, Haier South and South-East Asia said.

"Presently, India is the highest contributing overseas market for the brand Haier as part of the group and we are very optimistic of the growth we are witnessing here," he added.