Videocon Industries will set up a Rs 250-crore manufacturing plant for ‘white goods' in the State.
Stating this, Mr Anirudh Dhoot, director of the company, told newspersons here that the product range includes air-conditioners, washing machines and refrigerators.
PROJECT BLUEPRINT
Finer details would be worked out in the next three months and a final announcement made during the ‘Emerging Kerala Global Connect' event in September.
Mr Dhoot said Videocon Industries would also invest Rs 100 crore in an IT park here, along the lines of those being promoted in West Bengal and Chhattisgarh.
The company has an entrenched presence in real estate catering to the niche area of IT infrastructure parks, he added.
The white appliances plant is expected to generate direct and indirect employment opportunities for 500 to 800 people.
Additionally, it will spawn ancillary industries that can bring in investments and generate jobs.
PILOT TEAM
The land for the projects will be identified in due course. A pilot team from the company will visit various investment zones the State government has set up here.
The company is looking for a city with available port infrastructure for the white appliances plant since it intends to export 20 per cent of its production.
It is at present exporting these products from existing bases to South Africa, West Asia and Sri Lanka. Last year, export revenues amounted to Rs 500 crore.
Mr Dhoot said consultants Ernst and Young have been commissioned to prepare a detailed project report on the proposed manufacturing plant in Kerala.
ELECTRONIC GOODS
The company is also a leading player in electronic goods manufacturing, and would not be averse to looking at opportunities here provided they make business sense.
According to Mr Dhoot, tourism and IT have excellent opportunities for growth in the State.
Being chairman of the Kerala Development Council of Assocham, he would want the State to look at new areas of growth as in SME clusters, medical tourism, technology parks and BPO.