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TCL to set up Rs 100 cr HW unit in Vizag

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CIOL Bureau
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HYDERABAD: TCL India Holdings Pvt Ltd, a 100 percent Indian subsidiary of the $ four billion TCL Corporation, China, has announced its decision to set up a manufacturing facility in Vishakhapatnam, Andhra Pradesh (AP). The proposed facility is slated for the manufacture and marketing of consumer electronics and IT products.





The Rs 100 crore facility, a JV between Sri Nahusha Electronics and TCL India Holdings has been given 25 acres of land in Visakhapatnam and was also granted 100 percent sales tax exemption for a five-year period. The facility to be set up in two phases is expected to employ around 1,000 skilled and unskilled workers.



"The Chinese company approached us in October and we expedited the process of considering its proposal. Now the work for the proposed facility will commence immediately and within the next three months the company is expected to be through with the first phase and by the end of March 2005, it will start manufacturing the first line of products," said AP chief minister, YS Rajashekar Reddy.



"The second phase would finish by the end of November 2005. This industry is going to facilitate the setting up of some more ancillary industries too. Two to three more Chinese companies have also approached us, we are considering their proposal and would soon announce their entry too," he added.



Regarding the investments that would go into the project and about the strategic partnership, TCL India sales and marketing VP, Adhikarla Gopal Krishna said, "We would be investing about Rs 50 crore in the first phase and would employ about 500 workers. The facility will manufacture consumer appliances like air conditioners, refrigerators and IT products like desktops, laptops, digital cameras and mobile phones."



He further added, "Primarily, we would be targeting the domestic market but would also explore the possibilities of exporting the products to SAARC and ASEAN countries over a period of time. This is a first of its kind of unit for our parent company TCL in India, but the company has got similar units outside India".

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