PG Electroplast acquires 50-acre land parcel in Sri City, Andhra Pradesh
PG Electroplast, through its Wholly Owned Subsidiary PG Technoplast (PGTL) announced the acquisition of a 50-acre land parcel in Sri City, Andhra Pradesh. This marks a landmark moment for the PG Group, as it establishes the company's first facility in South India and represents its largest land acquisition to date.
At the outset, PGEL plans to invest around Rs 1,000 crore in developing this state-of-the-art integrated manufacturing campus over the next 5 years. Strategically located near Chennai port, the facility will not only strengthen PGEL's pan-India manufacturing footprint but also support long-term export opportunities.
The first phase will focus on a refrigerator plant with an annual capacity of 1.2 million units, with commercial production expected by December 2026. The site is also being designed to accommodate future expansion into air conditioners, washing machines, and other home appliances and electronics.
The facility is expected to generate over 500 jobs in the region in the first phase and further contribute to Andhra Pradesh's industrial growth and India's vision of Atmanirbhar Bharat.
Powered by Capital Market - Live News