Videocon to invest Rs.200 crore in Kerala, to set up manufacturing unit

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Tvm: Videocon Group, the leading consumer electronics brand with diversified business interests in white and brown goods, will invest Rs.200 crores in Kerala to set up a state-of-the-art Electronic manufacturing unit. This was announced by Rajkumar Dhoot, MD of Videocon Industries at a function in Thiruvananthapuram to celebrate the completion of 25 years of its operations in Kerala.

Welcoming the announcement, Minister for Industries & IT, Shri P K Kunhalikutty said, “The proposed Electronics Complex is a good start to the investment initiatives being planned by the UDF Government. This will set the tone for future investments in Kerala, at a time when we are planning the ‘Emerging Kerala’ road show.”

Pradeep Kumar Dhoot, Director, Videocon said, “The location of the proposed unit and the other details will be known in the next one week after discussions with the Department of Industries & Commerce. The Electronics Complex would manufacture consumer electronics and the facility would provide employment to about 1,000 people in addition to the 1,000 people who are already working for the company here.” Sources in the Industries Department said that unit is likely to come up in Kochi.

Meanwhile Yash Chandra, Sales Head (South), Videocon said, “We are targeting Rs.200 crore sales this year from Kerala as against Rs.120 crores last year. Onam sales contribute to about 40% of the total sales. Videocon gets about 5-6% of its national turnover from Kerala. The company has a good share in the LCD and AC markets in Kerala and leads in the Direct-to-Home segment with its d2h brand.

As part of its Corporate Social Responsibility project, Videocon handed over 25 ambulances to the local Government hospitals and 100 LCD televisions to Government run schools. Minister for Health & Coir, Shri Adoor Prakash; Minister for Public Works and V K Ebrahim Kunj were also present on the occasion.

Kerala Biz News

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