An­chor Elec­tri­cals plans to set up fa­cil­ity in Sri City, to in­vest ₹600 cr

The Hindu Business Line - - NEWS - V RISHI KU­MAR

An­chor Elec­tri­cals, a lead­ing elec­tri­cal prod­uct com­pany, has signed up with Andhra Pradesh for set­ting up of a new man­u­fac­tur­ing fa­cil­ity in Sri City.

The com­pany plans to in­vest ₹600 crore in the new Andhra Pradesh fa­cil­ity over next few years up to 2025, and, of this, ₹250 crore is likely to be in­vested in the first phase.

At a meet­ing hosted in the up­com­ing green­field cap­i­tal city of Amar­a­vati in Andhra Pradesh on Thurs­day, the com­pany out­lined its in­vest­ment plans to set up an elec­tri­cal con­struc­tion ma­te­rial and ap­pli­ances man­u­fac­tur­ing fa­cil­ity.

The com­pany, which is a whol­ly­owned sub­sidiary of Ja­pan's Pana­sonic Cor­po­ra­tion, has signed a me­moran­dum of un­der­stand­ing with the Andhra Pradesh Eco­nomic De­vel­op­ment Board to es­tab­lish the fa­cil­ity in a new 30-acre fac­tory in Sri City.

The MoU was signed be­tween An­chor Elec­tri­cals Joint MD Di­nesh Ag­gar­wal and APEDB CEO J Kr­ishna Kishore.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.