Panasonic Life Solutions' invests Rs 600 cr in first electrical construction material unit in South India

Panasonic Life Solutions India, a subsidiary of Japan-based Panasonic Corporation, has opened its first electrical construction material manufacturing unit in Southern region, set up at a total outlay of Rs 600 crore.

According to a company statement, Panasonic Life Solutions would be investing Rs 600 crore at the facility in two phases and Rs 300 crore was already invested.

The facility aims to produce more than 200 million pieces of switches per year in the next five years, the company said on Thursday.

With this facility, the company aims to strengthen its presence in the South and develop market synergies by providing swift material deliveries.

''This will be the company's first electrical equipment manufacturing unit in Southern India and seventh in India followed by facilities in the North and West regions'', the statement said.

The objective of the facility was to support infrastructure development, create new jobs and industrial development in the region. The unit once fully operational would primarily focus on making wiring devices products covering roma, penta modular and roma urban. The company further intends to add other products from the wiring devices and include switchgear, wires and indoor air quality products over a period.

The production capacity in the first year is 80 million units and expected to increase by 15 per cent year-on-year as sales further improve, the statement said.

''India is on a growth trajectory and this growth will need tremendous support from the ECM (Electrical Construction Material) industry for people,'' Panasonic Corporation, Business Unit Head - Power Component Business, Kawamoto said. ''We see this as a tremendous opportunity for making human life simpler, safer and comfortable by enhancing the consumer experience through our technologically advanced products with Japanese standards, which will now be manufactured at this facility in India.''

The inauguration of the facility at Sri City in neighbouring Andhra Pradesh, would help us significantly scale up our productions in India, while contributing to the overall development of the region, Panasonic Life Solutions India Pvt Ltd., Managing Director, Kazuki Yao said.

According to company Director and Business Unit Head of Wiring Devices, Rajesh Nandwani , the unit has been established to manufacture and produce products from the wiring devices category.

''The new factory production system includes a state-of-the-art assembly line that will manifest Industry 4.0 technologies to support industrial transformation and business excellence, for enhanced safety and productivity,'' he said.

(With PTI inputs)

Published on: Thursday, April 21, 2022, 08:16 PM IST