The Electronic Manufacturing Company, Elista is all set to invest Rs 350 Crore in settling up two electronics goods and appliances manufacturing units in Kopparthi of Andra Pradesh’s Kadapa district.
The parent company of Elista, UAE-based TelmoDome has purchased three acres of the land parcel from the AP government for settling up a 1.32 lakh sq. ft. Smart TV and monitors facilities. The operation of the land will be from March 2024 following the phase-1 investment of Rs 55 Crore. Moreover, the company will be investing Rs 250 Crore in this plant.
In addition, they are coming up with a second facility that will manufacture smart watches and white goods such as refrigerators, washing machines and more. The company has set up an investment of Rs 100 Crore and is expected to be ready by the end of 2024.
The Chairman and managing director of Elista and TeknoDome, Saket Gaur said, ”The expansion into the smartwatches category will help Elista become a one-stop solution for consumers”. He also said the first plant will have a capacity to manufacture 1 million smart TV sets and 1 million monitors annually. Whereas the second plant will have the capacity to manufacture a minimum of 1 million smartwatches, 2 lakh speakers and around 50,000 units of appliances annually.
