Haier plans to invest Rs 370 crore in Pune plant

KOLKATA: Chinese appliances maker Haier plans to invest Rs 370 crore in its Pune plant to scale up operations.

The company said on Thursday it has signed a memorandum of understanding with the Maharashtra government in this regard.

The investment will be used to expand manufacturing capacity of refrigerators besides adding new products, such as washing machines, air-conditioners, LED television panels, water heaters and deep freezers, to the production line. At present, one-third of the plant’s 40-acre area is used for manufacturing refrigerators. It has a capacity of one million units per year.

The investment will enable Haier to strengthen local research and development to manufacture products more suited for Indian consumers.

The company said it also plans to increase its manpower 120% to 2,600 employees across the country by 2017.

Eric Braganza, president at Haier India, said the expansion in India is a testimony of the company's commitment to contribute to the government’s ' Make in India’ initiative.