Haier India announced the Phase II expansion of its Greater Noida plant with an investment of INR 400 crore for adding 44,890 square meters to the existing 3,05,726 square meters of space.
Haier India said this phase will be focused on establishing a manufacturing plant for injection moulding and sheet metal, improving both production capacity and backward integration skills.
“With enhanced manufacturing capabilities and increased backward integration, we are confident in our ability to deliver exceptional products to our customers,” Satish NS, President at Haier India, said.
Haier India invested INR 1600 crore in the first phase of Noida Industrial Park to create the largest manufacturing unit for air conditioners, washing machines, and refrigerators in the region. Haier has produced and delivered 2 million sets to consumers across India.
Haier India in April said it would be targeting a turnover of Rs 10,000 crore in the next two years.
Haier, which had closed last year at Rs 6,000 crore, expects a growth of 40 percent and 30 percent in revenue in the years 2023 and 2024, respectively.