"Haier's IITGNL Unit Gets Government Approval, Anticipates ₹400 Crore Investment"

In a significant development, government officials have granted approval for the much-anticipated phase two expansion of Haier Appliances in the Integrated Industrial Township of Greater Noida Limited (IITGNL). This expansion is set to bring a fresh wave of investment amounting to ₹400 crore and is expected to create employment opportunities for approximately 1,000 individuals during the second phase of development.

The approval follows a recent visit by the Uttar Pradesh Industrial Development Minister, Nand Gopal Gupta, who highlighted the prevailing challenges faced by several investments in Greater Noida due to pending map approvals from various companies.

Elaborating on this momentous development, NG Ravi Kumar, the CEO of Greater Noida Authority and also the Managing Director of IITGNL, stated, "Haier Appliances, situated in the Integrated Industrial Township of IITGNL, has successfully completed the construction of the first phase unit and commenced production. The company is now gearing up to commence the construction of the second phase unit, and I am pleased to announce that the map for Haier's Phase 2 unit has received official approval. Construction is set to commence imminently."

As per the company's projections, the second phase expansion unit will witness an investment of approximately ₹400 crore, facilitating job opportunities for around 1,000 young professionals. The plant is expected to be fully operational within the span of a year. The facility will specialize in the production of injection molding and sheet metal, which will be exclusively utilized in the existing operational units.

Local officials have noted that this represents the fourth plant established by Haier Appliances in the area. Prior to this, the company had launched plants dedicated to the manufacturing of air conditioners, refrigerators, and washing machines.

Back in 2018, Haier secured a substantial land plot spanning 122 acres. The company has already made an impressive investment of approximately ₹1,600 crore during the first phase of development, contributing to employment opportunities for approximately 2,500 individuals.

NG Ravi Kumar extended a welcoming appeal to potential investors, assuring them of comprehensive support from both institutions for those looking to invest in the Integrated Industrial Township and in Greater Noida. This latest expansion is anticipated to not only bolster the region's industrial landscape but also play a pivotal role in fostering economic growth and job creation.

BS