Local manufacturing of Refrigerators will commence operations from January 2018 at Technopark, Jhajjar, Haryana with an investment of Rs 115 crores
Area: 10,000 sq meters; annual production capacity: 500,000 units
Panasonic India, today laid the foundation stone of its First Refrigerator Plant in Jhajjar, Haryana. Shri. Manohar Lal Khattar, Hon’ble Chief Minister of Haryana, Shri. Om Prakash Dhankar Agriculture Minister, Haryana and Shri. Devender Singh, Principal Secretary Industries, Haryana, Shri Sudhir Rajpal, MD-HSIIDC, were present at the occasion along with Mr Manish Sharma, President & CEO, Panasonic India and South Asia, Mr. Hisao Yamane- Managing Director Appliances Company (APIN) and Mr. Saurabh Rawat- Divisional Head APIN, with other senior Panasonic representatives. The refrigerator plant will manufacture Top and Bottom-mounted refrigerators comprising of unique features such as energy-saving, long-lasting freshness and design, to address the local demands.
In the year 2012, we established our first model ‘eco ideas’ Factory in India, Technopark in Jhajjar, Haryana and the Refrigerator plant is yet another commitment to Haryana state to offer the complete product planning including design, production and sales. It gives the necessary impetus to local manufacturing and offering value-based products, attuned to government’s ‘Make in India’ vision.
With an annual production capacity of approximately 500,000 units the new plant will be spread across 10,000 sq. meters and will manufacture refrigerators comprising of unique features such as energy-saving, long-lasting freshness and design. The company plans to invest Rs 115 crores and shall create a comprehensive eco system for manufacturing appliances in the Indian market. The operations will begin from January 2018 and sales for the will commence from April 2018 in India.
Shri. Manohar Lal Khattar, Hon’ble Chief Minister of Haryana commented, “Haryana’s robust and resilient economy has made it one of north India’s most preferred industrial corridors. Ranked 14th, amongst the states w.r.t to GSDP contribution, we have taken major initiatives to improve the “Ease of Doing Business” by simplification of procedures, minimizing of waiting period, improvement of business environment and introduction of information technology to make governance more efficient and effective. We encourage the contributions made by corporations such as Panasonic that have holistically developed the society and by extension, the nation. To facilitate industrialisation and promote employment Haryana has already set an ambitious plan and has allotted 692.42 crore to the Industries Sector for implementation of New Entrepreneur Policy, 2015 during 2016-17.”
Mr Manish Sharma, President and CEO Panasonic India and South Asia said, “Soaring temperatures coupled with factors such as higher disposable income and easy availability of finance schemes, greater product awareness have created a demand for premium products. We, at Panasonic believe in offering value-based products, attuned to government’s vision. By further extending our manufacturing footprint in the country, we intent to ramp up our position as one of India’s dominant consumer durable corporation. This vision will not only stronghold the governments Make-in-India intent, but will also augment the regional employment numbers.”
India’s Refrigerator market is set to grow by a CAGR of 15.60% during 2015-2021 and the current market size for FY’16 is 11.13 Million units. Source: CEAMA.