Midea Group lays the foundation stone for Technology Park in Maharashtra, India, with a new investment of ₹1,3 50 Crore; supports ‘Make in India’ initiative
New Delhi, 03 November 2018: Midea Group, a global consumer appliance conglomerate and a Fortune 500 Company, today laid the foundation stone for the Technology Park at Supa Parner in Maharashtra, India, with manufacturing plants for home appliances, HVAC and compressors. The foundation stones were laid by The Honorable Chief Minister of Maharashtra, Shri Devendra Fadnavis; Mr. Xiangjian He, Founder, Midea Group; and Mr. Paul Fang, Chairman, Midea Group.
Commenting on this occasion The Hon’ble Chief Minister Sh. Devendra Fadnavis said: “Maharashtra is the growth driver of the country’s economy. We have taken several initiatives to create a conducive ecosystem which has now made Maharashtra a favourite investment destination. I am delighted that Midea has decided to invest in setting up the technology park in our state. This development will help us in our journey of making Maharashtra a hub for manufacturing, production, and research.”
The Technology Park complex is being set up in Supa Parner, MIDC Industrial Park II near Pune on 68 Acres of land acquired in 2018. In line with the Government of India’s ‘Make in India’ policy, Midea has earmarked an estimated investment of Rs. 1,350 crores over 5 years for the technology park for manufacturing a range of consumer home appliances, air conditioners and compressors.The Technology Park will house three manufacturing units for Home Appliances, HVAC Products and Compressors. This technology park will include a manufacturing facility for Carrier Midea India, a 60:40 Joint venture between Midea and Carrier.
One of the manufacturing facilities in the technology park will be for GMCC, the world’s largest manufacturer of compressors for HVAC products and a Midea Group company, making an investment in a modern manufacturing facility. The technology park will also attract investment from other ancillary units to supply to Midea’s factories.
The Technology Park is expected to generate employment opportunities for more than 2000 people in direct and indirect employment. The complex is likely to commence commercial operations at the beginning of 2020.
Mr. Xiangjian He, Founder, Midea Group, said: “We are extremely happy to begin work on our new facility in India. True to the Midea spirit of pioneering and sharing, this Technology Park will create leading products for India and transform the company”
Mr. Paul Fang, Chairman, Midea Group, added: “Midea Group is one of the fastest growing global home appliance companies in the world because of our innovations on humanizing technology. India is a key region in our global growth strategy and will be an important manufacturing hub in the future.”
Mr. Eric Wang, Vice President, Midea Group, said: “The greenfield facility is a testament to our commitment to the Indian market. The state-of-the-art facility will bring increased localization and world-class technology to Indian consumers.”
Mr. Krishan Sachdev, Managing Director, Carrier Midea India and Midea Group, India Region said: “The technology park will strengthen our endeavor to develop India-specific products to meet the increasing demand of Indian consumers and support our growth ambitions. This investment is Midea’s commitment to ‘Make in India’ and will firmly entrench our ongoing partnership in this critical market. The second Carrier Midea manufacturing facility will help us translate our growth vision into reality for the Carrier brand to be a leading air conditioning brand in India.”
Over a period of five years, the facility will produce refrigerators, room air conditioners, washing machines, water purifiers, water heaters, commercial air conditioners & compressors. Plans for manufacturing other home appliances categories in a phased manner have been completed. Stringent environment and safety standards will be deployed to ensure that the manufacturing facilities are at par with global operating standards.