Anchor Electricals investing Rs 150 crore for a new plant at Haridwar

KOLKATA: Anchor Electricals, a wholly owned subsidiary of Japan’s Panasonic Corp, is investing Rs 150 crore for a new manufacturing plant at Haridwar to produce complete range of switches and accessories, which is expected to be commissioned by end-2016.

This plant, which will be near the existing unit at Haridwar, will allow the company to scale up its capacity by over 30 per cent in the current year. The existing facility manufactures around 20 million pieces of wiring devices per month. Anchor plans to double capacity in Haridwar by 2020.

This is the third new plant commissioned by the company since its acquisition by Panasonic in 2007. The other two include one in Dhamdachi for manufacturing fans and Daman to manufacture wiring devices.