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QThree Techpark, ABAJ to set up TV, AC plant

Bengaluru-based QThree Techpark has partnered ABAJ Group to set up a television and air-conditioner manufacturing facility near Mehsana in Gujarat. The unit would be outfitted with robotic technology and machinery to meet a demand for 25 lakh LED TVs and six lakh air-conditioners a year. The companies said they would invest ₹1,000 crore to set up the unit that will provide jobs to 4,500 people once its operational.

Gujarat Chief Minister Vijay Rupani on Wednesday performed a virtual ground breaking ceremony for a techpark, which will be operational in next two years. “Gujarat remains a preferred destination for setting up of manufacturing units in the country,” Mr. Rupani said in his remarks.

The facility will make own brands of ABAJ Group and QThree Ventures as well as serve as a contract manufacturer for any brand looking to manufacture consumer electronics products.

The facility will be an assembly-based manufacturer of LED TVs, with local sourcing of components.

Additionally, the new venture will expand the production capabilities to cover consumer electronic products such as refrigerators, washing machines etc.

With the new facility, the ABAJ-QThree Ventures aims to touch ₹1000 crore in annual turnover by 2022, as per a media statement issued jointly by both groups.

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Printable version | Nov 24, 2020 1:35:35 AM | https://www.thehindu.com/business/qthree-techpark-abaj-to-set-up-tv-ac-plant/article32921797.ece

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