Panasonic to invest Rs.10 bn on Haryana factory

CHANDIGARH, INDIA: Japanese electronics giant Panasonic will set up an eco-friendly factory in Haryana's Jhajjar district with an investment of about Rs.10 billion (over $220 million), a member of parliament said Sunday.

Rohtak MP Deepinder Singh Hooda said that the factory will come up at Dadritoi village in Jhajjar district, some 300 km from here.

It would be spread over an area of 76 acres and its foundation stone will be laid Feb 23, he added.

The factory is likely to start production within one year.

Hooda said that the industrial policy of the Haryana government was encouraging international brands to invest in backward areas of the state in the national capital region (NCR) area.

He added that the new factory will generate employment for hundreds of people.