Panasonic breaks ground for new mfg unit in AP
Panasonic Life Solutions India, a subsidiary of Panasonic Corporation, on Monday held the groundbreaking ceremony of its new manufacturing facility in Sri City, Andhra Pradesh.
image for illustrative purpose
Hyderabad: Panasonic Life Solutions India, a subsidiary of Panasonic Corporation, on Monday held the groundbreaking ceremony of its new manufacturing facility in Sri City, Andhra Pradesh. The company plans to make a total investment of Rs 600 crore in second phases. The previously announced investment of Rs 294.7 crore in phase one is part of the company's robust manufacturing and expansion plans to support the infrastructure and increase production capacity in India.
Upon completion, the new facility will be Panasonic Life Solution India's eighth electrical equipment material production base in India, followed by facilities in the North and West regions.
The facility will include a state-of-the-art assembly line of the electrical equipment materials and wiring devices offered by the company.
Tetsuyasu Kawamoto, Managing Director, Panasonic Life Solutions India Pvt. Ltd. said, India is growing exponentially in terms of housing development and, the real estate market, especially in Andhra Pradesh will witness a paradigm shift in the post-pandemic era. "The pandemic had brought businesses to a halt; however, we look forward to a revived growth journey and contribute to the speedy economic recovery of the country," he added.
