Panasonic Life to inaugurate new facility at estimated cost of Rs 650 cr in May, eyes Rs 12,000 cr turnover in next year


Hyderabad, March 17 -- Panasonic Life Solutions India (PLSI), one of the largest domestic manufacturers of Electrical Construction Materials (ECM) in India and aims to be a billion-dollar company by 2022, would inaugurate its new facility set up with an estimated cost of Rs 650 crore at Sri City Industrial Park in Chittoor district of Andhra Pradesh in May this year.

The new facility will be Panasonic's eighth electrical equipment material production base in India and it will manufacture wiring devices, electrical wire and switchgears in the first phase, Panasonic Life Solutions India Private Limited Managing Director Vivek Sharma, told reporters on the sidlines of the opening of its first exclusive brand store in India here on Tuesday.

Reference: HT Syndication