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Haier's IITGNL unit receives govt approval, Rs 400 cr investment expected

The company is expected to make an investment of Rs 400 crore and generate employment opportunities for 1,000 people in the second phase of development, the officials said

Photo: Shutterstock

Photo: Shutterstock

Press Trust of India Noida

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The phase two expansion of Haier Appliances unit in the Integrated Industrial Township of Greater Noida Limited (IITGNL) has been approved, government officials said on Friday.
The company is expected to make an investment of Rs 400 crore and generate employment opportunities for 1,000 people in the second phase of development, the officials said.
The development comes after a recent visit of UP Industrial Development Minister Nand Gopal Gupta, who noted that several investments in Greater Noida were stuck due to pending map approvals of companies.
"Haier Appliances, located in the Integrated Industrial Township of IITGNL, after constructing the first phase unit and starting production, is now going to start the construction of the second phase unit," Greater Noida Authority CEO NG Ravi Kumar said.
"The map has been approved for the construction of Haier's Phase 2 unit. Now construction is going to start soon," Kumar, also the managing director of IITGNL, said.
According to the company, there will be an investment of about Rs 400 crore in the second phase expansion unit and 1000 youth will get employment opportunities, he said.
This plant will be ready in about a year. Injection molding and sheet metal will be manufactured in this plant which will be used only in the currently functioning units, Kumar said.
According to local officials, this is the fourth plant of Haier Appliances here. Before this, the plants for making AC, refrigerator and washing machine have been started.
Haier was allotted a plot of 122 acres in the year 2018. The company has already invested about Rs 1,600 crore in the first phase and provided employment opportunities to about 2,500 people, an official said.
Meanwhile, Kumar has appealed to investors that all possible support will be provided by both the institutions to the investors wishing to invest in Integrated Industrial Township and in Greater Noida.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 20 2023 | 11:27 PM IST

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