TCL's new unit with an investment of Rs. 1,530 cr
Tirupati: China based TV and consumer electronics maker TCL Electronics is opening a new manufacturing facility at Tirupati. Chief Minister of AP YS Jagan Mohan Reddy will inaugurate the 139 acre unit at Vikruthamala of Yerpedu mandal near Tirupati on Thursday. The total investment is expected to be Rs 1,530 crore.
The MoU for setting up the facility in AP was signed in 2018 itself to enable TCL to contribute towards the Make in India initiative of the Government of India. TCL India General Manager Abell Jiang said that the factory has just started operations. The main goal of this year is to build supply chain capacity, production capacity and customer delivery capacity, so that the company can move from the construction stage to the stable operation stage.
"Under the Make in India plan proposed by PM Narendra Modi government, TCL China Star Optoelectronics Technology (CSOT) chose to invest in India in 2018 to develop the display industry. TCL CSOT is engaged in the manufacturing of TV and Phone panels in India. During the phase-I construction, we reserved the land for phase II and the land for suppliers. When the market time is suitable, we will choose the opportunity to start the construction of the second phase", explained Abell.
As a wholly-owned subsidiary of TCL group, TCL CSOT has always adhered to TCL's overseas strategic concept. India is a populous country with a huge consumer market. They chose India and in particular AP due to potential market port and favourable investment environment in the State they felt that it has an edge over other areas.