Hyderabad, Nov 29 (GCBusiness) Skyworth group, a USD 5 Billion conglomerate in consumer electronics, will set up state-of-art manufacturing unit in the first phase, under the name of Radiant Appliances and Electronics Private Limited, in more than 50 acres in Hyderabad.
The company which starting manufacturing of wide array of products, including LED TVs, Set top boxes, Lithium batteries and complete range of white goods, will invest 100 million US dollars in a phased manner.
This was disclosed by Skyworth Group Board Chairman Mr Lai Weide after signing an MOU with Telangana Government in presence of Telangana Municipal Administration Minister K T Rama Rao at a meeting held here on Friday in presence of the top delegation of Skyworth Leadership and top government officials of Telangana.
Skyworth and METZ brand LED TVs, which offers cutting edge technology and latest features are already into production.
In its second phase of expansion, it will manufacture latest generation Lithium batteries of Electric Vehicles, and wide array of white goods- Air conditioners, Refrigerators and Washing Machines.
Speaking on the occasion, Mr. Lai Weide,said that “ Skyworth is highly encouraged by the electronics manufacturing industry supportive policies of Telangana government. Besides bringing high quality manufacturing skills, scale of economy through very efficient supply chain, Skyworth will be bringing the futuristic products to Indian consumers.
Along with Up scaling of the skills of the local people, Skyworth will undertake socially responsible initiatives”.
Mr. Wang Zenjun, Executive Vice President commented that “ India is very strategic market under Skyworth Global Expansion plan and it is noteworthy that quality, decision and latest technology AIOT products of Skyworth and Metz are well received by Indian consumers.
Skyworth is committed to Indian Markets and would continue to make substantial investments in India market in a phased manner, he added.
Expressing his happiness that Skyworth chose Hyderabad as its manufacturing destination, Mr Rama Rao said it generate employment opportunity of more than 5,000 people.
The Minister pointed out that the present government is Industry proactive which is reflected in its Industrial policy and revolutionary measures such as TS-iPass.
He pointed out the availability of skilled manpower, best law and order, latest infrastructure and excellent national and international connectivity which makes Hyderabad the most favourable destination for industrial investment.
Mr. Rao congratulated Skyworth Board Chairman and his team for establishing a manufacturing unit in Hyderabad and assured of all possible support from the Telangana government.