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Panasonic Life to invest Rs 600 crore for electrical equipment near Chennai
Posted on 11th January 2020
Panasonic Life Solutions will invest Rs 600 crore in India, initially spending Rs 294.7 crore to set up an electrical equipment and wiring manufacturing plant in SriCity near Chennai.

The plant will start work by October 2021, becoming Panasonic’s eighth electrical equipment production base in India after facilities in north and west India

Vivek Sharma, managing director of Panasonic Life Solutions India, and Ravisanna Reddy, managing director of Sri City, on Saturday exchanged an agreement to acquire land for the 133,546-sq mt plant.

“India is growing exponentially in terms of housing development and the number of houses constructed each year is massive in comparison to Japan. We foresee our electrical construction material business outside of Japan as a growth driver along with wiring device business in India which is steadily marking double-digit growth,” said Masaharu Michiura, CEO of Life Solutions Company, Panasonic Corporation.

Panasonic Life Solutions is a subsidiary of Panasonic Life Solutions Company.

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TCS, DLF seek govt nod to set up IT SEZs in Haryana, Uttar Pradesh
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Maruti launches petrol version of Vitara Brezza, priced at Rs 7.34 lakh
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Hero MotoCorp shares slip to over 5-year low, tumble 12% in February
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Malaysia PM Mahathir Mohamad submits resignation to king amid turmoil
Posted on 24th February 2020

Malaysian Prime Minister Mahathir Mohamad, at 94 the world's oldest leader, submitted his resignation to the king Monday after a bid by his allies to bring down the government and block the succession of leader-in-waiting Anwar Ibrahim.

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