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Skyworth Group to invest USD 100 mn in Hyderabad

Monday, 02 Dec 2019
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Chinese company Skyworth Group is making an investment of USD 100 million (Rs 700 crore) as part of Phase-I of its extensive `Make in Telangana’ plan. For this, Skyworth Group has inked a memorandum of understanding with the government of Telangana.

The plan includes manufacturing LED TVs, set-top boxes, washing machines, air-conditioners, refrigerators as well as lithium batteries for electric vehicles.

The Group has acquired a 50 acre parcel of land at E-City in Maheshwaram near Shamshabad airport for its campus. It will set up the base in the name of Radiant Appliances & Electronics Its investments in the greenfield facility may exceed Rs 2,000 crore in subsequent phases over the next few years.

The investment, which provides a major leg-up to the Telangana government’s ambition to make Hyderabad a global electronics manufacturing hub, will generate over 5,000 direct and indirect jobs.

The company will start with LED TVs and set-top boxes in Phase-I and go on to add EV batteries and a host of white goods like ACs, refrigerators and washing machines in subsequent phases over the next few years.

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