Panasonic to invest $220 mn in Haryana

Japanese electronics and home appliances player, Panasonic, will invest $220 million at Jhajjar in what has been billed as its first mega project in the country. As per release issued by state government, Daizo Ito, president Panasonic India Pvt Ltd, held a meeting with the Haryana chief minister, Bhupinder Singh Hooda, apprising him of the development.

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The release added the plant would be set up over 76 acres in the Model Economic Township at Jhajjar. It will also function as headquarter office of Panasonic in India. The units would provide employment to 1,500 people in the first phase and over 2,000 in the second phase.

While in the first phase, the company would set up plants for the manufacture of air-conditioners, washing machines and welding systems, R&D Centre and facilities for making refrigerators, automotive systems, flat panel TVs, microwave oven and other electronic components, would be set up in the second phase.

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The company intends to invest about $120 million in the first phase and more than $100 million in the second phase. The units would provide employment to 1,500 persons in the first phase and more than 2,000 persons in the second phase.