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Anchor Electricals plans to invest Rs 600 cr by 2025 to set up new facility in Andhra Pradesh

Press Trust of India  |  New Delhi 

Thursday said it plans to invest Rs 600 crore by 2025 to set up an electrical construction material and appliances manufacturing facility in

The company, a wholly-owned subsidiary of Japan's Panasonic Corporation, has signed an MoU with Economic Development Board (APEDB) to establish the facility in a new 30-acre factory in Sri City, said in a statement.

The company plans to make a phased investment of Rs 600 crore by 2025, with an initial investment of Rs 250 crore, to set up the facility, it said.

Anchor has 7 manufacturing units in North and West regions of

The MoU was signed between Joint MD and APEDB J in the presence of N Chandrababu Naidu and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 17:45 IST