Leading European home appliances brand BSH Hausgerte GmbH today held the ground-breaking ceremony of its upcoming refrigerator unit at its 44-acre Chennai facility.
This is part of 100 million euros (over Rs 780 crore) committed for India in the next four years, the company said in a statement.
The factory would be ready by 2021 and would have capacity to manufacture around 41,000 units per annum.
The company is targeting more than 4 lakh units by 2028 for domestic consumption as well as export to other emerging markets.
BSH will be investing 100 million euros over the next four to five years across building brands, technology centre, setting up its robust refrigerator factory to bring best in class German technology in India.
To support this target, the facility will give direct employment opportunities to almost 500 staff by 2027.
More From This Section
The company's new facility will see localisation for India, and will manufacture products for the brand Bosch.
Commenting on the development, Michael Schllhorn, Member of the Board of Management (Chief Operating Officer), BSH B/S/H/ Home Appliance Group said, In the last few years, BSH invested over 100 million Euros into India to develop its Chennai facility, the Tech Centre, R&D and brand stores to produce localised offerings for India. In line with our Make in India' commitment, we will continue to extensively invest in the country and build innovative India specific products.
BSH Household Appliances Manufacturing India MD & CEO Gunjan Srivastava said, "Our new facility reinforces our commitment to the Indian market and the government's Make in India' campaign, by innovating and designing products specifically for the Indian market.
Launched in 2015, the Chennai facility so far has manufactured Bosch front loading washing machines.