A Bengaluru-based QThree Techpark has joined hands with a Gujarat-based local manufacturing company ABAJ group to set up a TV and air-conditioning manufacturing facility near Mehsana in Gujarat.
The facility, spread across 13 acres, will be outfitted with robotic technology and machinery to meet a demand of 25 lakh LED TVs and 6 lakh air conditioners annually. Both parties will invest ₹1,000 crore in three years to set up the plant that will provide jobs to 4,500 people once its operational.
Gujarat Chief Minister Vijay Rupani on Wednesday performed a virtual ground-breaking ceremony for a techpark, which will be operational in next two years. “Gujarat remains a preferred destination for setting up of manufacturing units in the country,” Mr. Rupani said in his remarks.
The manufacturing facility techpark will manufacture owned brands of ABAJ Group and QThree Ventures as well as serve as a contract manufacturer for any brand looking to manufacture consumer electronics products. The facility will be an assembly-based manufacturer of LED TVs, with local sourcing of components.
Additionally, the new venture will expand the production capabilities to cover consumer electronic products such as refrigerators, washing machines etc. The State of the art facility will be equipped with robotic machine technology for manufacturing and assembling of panels for TVs.
With the new facility, the ABAJ-QThree Ventures aims to touch a ₹1,000 crore annual turnover by 2022, as per a media statement issued jointly by both groups.
Published - October 22, 2020 04:47 pm IST
