Panasonic to invest another Rs 300 cr in Andhra facility by 2026, aims higher exports from India
Panasonic Electric Works India (PEWIN) will invest another Rs 300 crore to increase capacity at its unit in Sri City, Andhra Pradesh, company officials said on Friday. The Japanese company is looking to use the facility for exports and will primarily target the Middle East and African markets, they told reporters here.
«We have invested Rs 300 crore as part of the first phase of the project, and will be investing another Rs 300 crore by 2026,» PEWIN Director for power business unit, Rajesh Nandwani, said.
At present, the overall production capacity of the company, which operates plants in Daman and Haridwar as well, is 62 crore pieces per year, which will grow to 70 crore by 2025 and 100 crore by 2030, Nandwani said.
The company produces various products such as switches and switchboards.
