Anchor Electricals, a wholly owned subsidiary of Panasonic Corporation, has commenced operations at its new manufacturing unit at Daman, India.
This new manufacturing unit has been set up with an investment of Rs 200 crores and will produce a complete range of wiring devices.
“The facility’s annual production capacity of 240 million units is expected to double by next fiscal,” the company said in a release.
The company plans that for the first two years, the products manufactured at Daman will cater to the domestic market, post which exports to Middle East will commence.
The factory aims to be environment friendly and has adopted many green features including installation of LED lighting, solar panels and use of treated sewage water. It would employ 1500 people once it reaches full capacity by next fiscal.
The manufacturing unit will be Anchor’s first greenfield factory after the Panasonic acquisition in 2007.