Consumer durables firm Haier India today announced an additional investment of over Rs 100 crore for its Pune-based manufacturing facility, taking the total to Rs 465 crore.
Earlier in May, the company had said it would invest Rs 360 crore at Pune by 2017 and plans to increase the manpower by 120 per cent to 2,600 employees across the country.
The company plans to scale up manufacturing operations and launch new product lines in washing machines, AC, LED panels, water heaters and deep freezers, Haier said in a statement.
Commenting on the development, Haier India President Eric Braganza said: "The increase in investment will not only enable Haier to explore new world of opportunities but also benefit the consumers, employees, dealers and other key stakeholders."
The expansion will also serve as an additional opportunity for the vendors and original equipment manufacturers with increased local production and lesser imports of products.
The investment will also enable Haier to strengthen local R&D to reinstate capabilities to manufacture customer inspired product innovations as the company is strengthening its network in tier II & III markets.
