The company said it will acquire 43 acres of land in Supa Parner Industrial Park II near Pune, Maharashtra, to set up a greenfield manufacturing facility for consumer home appliances and components.
According to the company -- which has been in operation in the country since 2013 -- the new facility is expected to commence commercial operations by 2018-end.
"The products manufactured at the plant will cater to Midea Group's operations in India as well as others. The facility will also evaluate exports for Midea Group to other distribution locations," the company said in a statement.
The statement said that the manufacturing facility would have a dedicated research and development (R&D) centre which would design, develop and test products for the Indian market.
"India is a key market in our global growth strategy and will be an important manufacturing hub in the future. Our investment is an example of Midea's belief in the Indian market and reiterates our commitment to 'Make in India'," said Andy Gu, Vice President of the Midea Group.
"This manufacturing plant will further support our focus to accelerate our business and establish Midea as a significant player in the home appliances market in India," he added.
The new facility would have a capacity to manufacture five lakh refrigerators, six lakh washing machines and 10 lakh water appliances products, the statement said.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.