Anchor Electricals is planning to invest Rs 600 crore by 2025 to set up an electrical construction material and appliances manufacturing facility in Andhra Pradesh.
The company, a wholly-owned subsidiary of Japan's Panasonic Corporation, has signed a memorandum of understanding (MoU) with the Andhra Pradesh Economic Development Board (APEDB) to establish the facility in a new 30-acre factory in Sri City.
The company plans to make a phased investment, with an initial investment of Rs 250 crore to set up the facility. Anchor Electricals has seven manufacturing units in North and West regions of India.