Lava to invest Rs 2,615 Crores to make more in India
Jul 27, 2015, 18:59 IST
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Indian company Lava will invest Rs 2,615 Crores over the next seven years to set up two manufacturing units in the country. Once they are up and going, the factories would have a total manufacturing capacity of 18 million sets every month."We have put in place a plan to invest Rs 2,615 crore to set up two more manufacturing units in India -- one in the north and the other in South India," Lava International Chairman and MD Hari Om Rai told PTI.
He added that the decision would be funded internally. "Some portion of the earmarked amount will also go into research and development," he added.
The company is in discussion with several state governments and would come at a conclusion in the next three weeks. The second unit would be launched in 2017.
Image credit: Indiatimes
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