MIRC Electronics who are the owners of Onida brand of electronics have reportedly talked about setting up a Rs 400 crore manufacturing facility in Maharashtra to manufacture ACs.
Gulu Mirchandani, chairman and managing director, MIRC Electronics shared the plan. “The facility, to be the company’s fifth plant in the country, would initially assemble air-conditioners and later manufacture them,” Hindu Business Line reported him as saying.
Mirchandani further added, “We will put up a facility of one million capacity. We are looking at putting it up in Maharashtra. Investment will be around Rs 400 crore.” The company may also consider manufacturing washing machines in the facility.
The company chose Maharashtra as the state because of the sales tax benefit offered by the state government, shared Vipul Mathur, MIRC Electronics, vice-president for marketing.
Talking about the company’s plans ahead, Mirchandani said, “The Group’s current overall size was of Rs 1,600 crore and the aim is to take it Rs 2000 crore by 2014. The company was looking at ‘kitchen appliances’ and this would be the focus area going forward. We have also launched the induction cookers (as part of diversification).”
