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China's Midea Group to invest $123.5 million in India

Appliance factory in Pune should create 500 jobs in 5 years

Supporting the official Make in India campaign, Andy Gu of China’s Midea Group announced a major factory development in Pune at a press conference in New Delhi on Monday.

MUMBAI -- Midea Group, a manufacturer of household appliances from China, is to invest 8 billion rupees ($123.5 million) setting up a factory in Pune that should be operational by the end of 2018, and is expected to employ 500 people over five years.

Built on a 43-acre site in western India, the plant will have the capacity to manufacture 500,000 refrigerators annually, 600,000 washing machines, and one million water heaters and other appliances. There will also be a research and development center for India-specific products.

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