Home appliances manufacturer Bosch and Siemens Home Appliances Group (BSH) is planning to invest Rs 350 crore to set up its first manufacturing plant in India, at Chennai. The facility, which is expected to commence operations by the second half of 2014, would also serve as an export hub for the Southeast Asian market, Australia and New Zealand.
The new facility, at Sipcot Industrial Park in Pillaipakkam on 42 acres, would start with manufacturing washing machines and plans are to expand to other home appliance products later. The facility would have a mid-term production capacity of close to 600,000 units and will create 400 direct employment, according to a release.
Marc Hantscher, managing director and CEO, BSH Household Appliances Manufacturing Pvt Ltd said, "The expansion is in line with the company's vision to further strengthen presence and offerings in the Indian market which has tremendous scope for the home appliances segment."
The Chennai facility is also one of its future key export hubs, to cover the entire Southeast Asian market - going as far as Australia and New Zealand where the company is also looking to export the Chennai-made products.
"We have created an entirely new product platform for the Indian market to ensure that we are able to perfectly address the demands of our Indian customers," he added.
Besides, the company would open a research and development centre in the facility.