Consumer electronics firm Elista will use Rs 250 Cr to set up manufacturing unit in Andhra Pradesh
The company will be investing Rs 250 crore over a period of five years for setting up the facility. The unit will be operational by the first quarter of 2024.
Elista, a consumer electronics brand, has said it would invest Rs 250 crore to set up a manufacturing unit in Kadapa, Andhra Pradesh.
This facility will cover an area of 1,32,300 square feet and will have an annual production capacity of 10 lakh televisions and 10 lakh monitors. The new plant would employ around 500 people and will be operational by the first quarter of 2024, the company said in a statement.
The total investment will happen over a period of five years, it said.
Though this expansion, the company will scale its production capacity and offer more technologically advanced products to consumers, according to Saket Gaurav, Chairman and Managing Director, .
Elisa works with contractual original equipment manufacturers (OEMs) and original design manufacturers (ODMs), including Dixon, VideoTek, and Veira Electronics, to manufacture its products.
Its product line includes LED TVs, washing machines, dishwashers, refrigerators, coolers, mobile accessories, and speakers.
With this new facility, Elista plans to manufacture a part of its portfolio in-house. With an initial investment of Rs 50 crore, TV and LED monitors will be manufactured in the facility.
According to the company, the facility will boost local manufacturing and engineering of innovative products and solutions.
Edited by Akanksha Sarma