Sri City: Panasonic Life Solutions India, a wholly-owned subsidiary of Panasonic Corporation, today held the groundbreaking ceremony of its new manufacturing facility in Sri City, Andhra Pradesh. The company plans to make a total Investment of INR 600 Cr in II phases. The previously announced Investment of INR 294.7 Cr in phase I is part of the company’s robust manufacturing and expansion plans to support the infrastructure and increase production capacity in India. Through this facility, the aim is to create employment opportunities and industrial development in Andhra Pradesh.
The ground-breaking ceremony for the facility was held in the presence of various dignitaries of Sri City, construction company M/s Takenaka India Private Limited and due to the coronavirus pandemic protocol, Mr. Tetsuyasu Kawamoto, Managing Director, Panasonic Life Solutions India Pvt. Ltd. attended the ceremony virtually. 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. It will be built over 33 acres of land spread over 133,546 sq. mt at Sri City, Industrial Park, Andhra Pradesh. The aim is to provide direct employment to at least 600 people in the state by the year 2022. Due to the pandemic scenario, the new unit will now commence its operations of manufacturing the electrical appliances by April 2022.
Talking on the occasion Mr. 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. The new facility in Sri City, once completed, will help us significantly scale up our productions in India and generate employment opportunities for the locals in Andhra Pradesh. With a strong commitment towards the government’s vision of ‘AatmaNirbhar Bharat’, the completion of this land will assist in strengthening our relations with the Government of Andhra Pradesh”.
In India, Panasonic Life Solutions has factories in Haridwar which are equipped to cater to the demands of the North, and the factories in Daman and Kutch which cater to the Western markets.