Videocon International is setting up a new appliance manufacturing facility at Bangalore in Karnataka. The plant is expected to manufacture two million compressors, 0.5 million refrigerators and 0.5 million washing machines per annum. 50 per cent of the total compressors produced, would be exported.

According to Mr.Venugopal N. Dhoot, chairman of the Videocon group, construction activity at the plant has been completed and production is likely to commence soon. The plant is being set up at a cost of Rs.400 crore. The company has received a term loan of Rs.150 crore from ICICI and the balance is being financed through internal accruals.

The plant is being set up by Aplicom India Ltd (AIL), a joint venture between Videocon International and Nechi Compresarai of Italy.

AIL is a technical and financial joint venture, in which Videocon holds 74 per cent and Nechi Compresarai holds 26 per cent.