Haier Appliances to set up Rs 30.69 bn industrial park in Greater Noida Noor Arora
In one of the largest investments by a Chinese durable major in the country, HaierAppliances India will put in Rs 30.69 billion to set up its second industrial park in Greater Noida. On Friday, a memorandum of understanding was signed by the company and the Uttar Pradesh government. The Greater Noida unit, spread over 123 acres, will be among the largest appliance plants in the country. Haier's component suppliers will set up base there. Samsung's largest mobile-manufacturing factory, inaugurated in June in Noida, is spread over 35 acres, involving an investment of Rs 49.15 billion. The latest investment by Haier comes 10 months after the company upgraded its Ranjangaon industrial park in Pune at an investment of Rs 6 billion, taking its annual production of refrigerators to 1.8 million units (from 0.8 million units earlier). The Pune plant produces 0.5 million units each of washing machines, air conditioners, television sets, and water heaters.