Videocon to invest Rs. 500cr for setting up mobile handset assembly plant in Punjab

Videocon to invest Rs. 500cr for setting up mobile handset assembly plant in Punjab

Videocon today announced an investment of Rs. 500 crore for setting up mobile handset assembly plant in Punjab. The new development is aimed to generate employment of 3,000 workers in the state.

Addressing the ‘Progressive Punjab Investors’ Summit’, Videocon director Anirudh Dhoot said that the investment will be made over the next three years to assemble mobile handsets. The company is also in plans to extend the investment for manufacturing set top boxes.

“We are happy to announce that Videocon would be setting up a Mobile assembly plant in Punjab. I have visited several States, but the speed of progress, development and treatment given to industrialists in this State is of par excellence,” Anirudh said in a press statement.

Videocon has a special mobile phones division that launches new handsets in the Indian market to compete against other domestic vendors. Moreover, the company is claimed to be a six billion dollar global conglomerate.

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