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Panasonic to invest Rs 1,150 cr in Haryana plant

Press Trust of India  |  New Delhi 

Electronics major Panasonic will invest $220 million (about Rs 1,150 crore) in a plant, which would produce air-conditioners, washing machines, refrigerators and other electronic items, to be set up at Jhajjar, Haryana.

Panasonic India President Daizo Ito, who met Haryana Chief Minister Bhupinder Singh Hooda today, said that the plant would be set up over 76 acres in the Model Economic Township at Jhajjar and will also function as headquarter office of the company for India.

While in the first phase, the company would set up plant for the manufacture of air-conditioners, washing machines and welding systems, R&D Centre and facilities for making refrigerators, automotive systems, flat panel TVs, microwave oven and other electronic components, would be set up in the second phase.

The company intends to invest about $120 million in the first phase and more than $100 million in the second phase.

"The units would provide employment to 1,500 persons in the first phase and more than 2,000 persons in the second phase," a Haryana government release said.

With the setting up of this plant, the company would not have to import air-conditioners, washing machines and welding systems. The company has been importing electronic appliances from Malaysia and Thailand.

First Published: Thu, January 12 2012. 20:34 IST