Elista to invest Rs 250 crore in a new manufacturing plant in Andhra Pradesh

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Domestic tech company Elista has announced that it will be investing Rs 250 crore in setting up a new manufacturing plant in Kadapa, Andhra Pradesh. The company claims that “this state of art plant will be spread over 1,32,300 square feet and will have a production capacity of 10,00,000 TVs & 10,00,000 LED Monitors annually.” Through this new facility, Elista is planning to generate employment for 500 people.

Importance of the new plant
Elista claims that this new facility builds on the company’s commitment to the Indian market and aligns with the government’s ‘Make in India’ and ‘Atmanirbhar Bharat‘ initiatives. The plant is also expected to boost local manufacturing and engineering of innovative products and solutions while it will also serve the demands of the global market as well. The company claims that the majority of its portfolio continues to be Made in India. With this new facility, Elista is planning to manufacture a part of its portfolio in-house.

Managing director of Elista and its parent company TeknoDome, Saket Gaurav, said, “With this manufacturing facility, Elista reaffirms its commitment to Making in India for the world. We are delighted by the support the Government of Andhra Pradesh extended to us. The conducive policies of the state, along with a robust infrastructure and progressive ecosystem, make it an ideal manufacturing hub for consumer electronics goods. Through this expansion, we are not just scaling our production capacity but also seeking to offer better and more technologically advanced products to our customers in India and abroad.”

How will be the investment done
The investment in the manufacturing facility will be spread across five years. In the first phase, Elista will invest Rs 50 crores, and the plant will be operational by the first quarter of 2024. In the first phase, only TV and LED monitors will be manufactured at this Andhra Pradesh facility. However, Elista has already chalked out plans to produce washing machines and dishwashers as well.

Elista has also recently started its operations in UAE and CIS and is also planning to enter into other key markets in the MEA region by 2024. The company expects to clock revenue of Rs 1,500 crore by 2025 from both Indian and International operations.

Source – https://www.gadgetsnow.com/tech-news/elista-to-invest-rs-250-crore-in-a-new-manufacturing-plant-in-andhra-pradesh/articleshow/98875785.cms

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