Panasonic Life Solutions India, a subsidiary of Panasonic Corporation, has initiated work on a new electrical equipment material manufacturing facility at Sri City in Andhra Pradesh.
The company plans to invest ₹600 crore over II phases on the new facility. It had previously announced investment of ₹294.7 crore in phase I, according to a Sri City statement.
The ground-breaking ceremony was held on Monday with Tetsuyasu Kawamoto, Managing Director, Panasonic Life Solutions India taking part in the ceremony virtually.
Upon completion, the new facility will be Panasonic Life Solution India’s eighth electrical equipment material production base in India, followed by facilities in the North and West regions. The facility will include an assembly line of the electrical equipment materials and wiring devices offered by the company.
It will be built over 33 acres of land and have a unit of…