TCL to invest Rs 225 crore in Telangana company Resojet

This would entail an investment of Rs 225 crore and has an employment potential for 500 people in the first phase, according to an official press release here on Wednesday.

Hyderabad: Telangana company Resojet has entered into an MoU with TCL for forging a joint venture to set up a state-of-the-art consumer electronics manufacturing facility in the E-City at Raviryal.

This would entail an investment of Rs 225 crore and has an employment potential for 500 people in the first phase, according to an official press release here on Wednesday.The MoU was signed by the Resojet and TCL representatives in the virtual presence of Industries Minister K T Rama Rao.

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TCL Electronics Holding Ltd is one of the largest consumer electronics manufacturing companies in the world based out of Hefei in China. The proposed facility in Telangana would be TCL’s first overseas facility for manufacturing of washing machines and would further expand to manufacturing of other consumer appliances, including refrigerators and dishwashers.

Speaking on the occasion, Minister Rama Rao said the state was proud that another homegrown company Resojet was expanding operations. “We are delighted to welcome TCL to Telangana.

This investment is a testament to the State’s efforts towards creating a conducive ecosystem for high technology manufacturing and reinforces Telangana’s position as a frontrunner in electronics manufacturing in India”, he said

The minister said no stone would be left unturned to transform Hyderabad as the Shenzhen of India and invited CEO of TCL Group Ms. Juan Du and the TCL team to visit Telangana and witness the enabling infrastructure and ecosystem in the State.

On the occasion, Raminder Singh Soin, Group Chairman of Resolute Group of Companies, said “the proposed joint venture shall propel India’s electronics growth story and will further boost the electronics manufacturing ecosystem in Telangana State.” Resojet CEO Gopal Krishna and Director Electronics Sujai Karampuri were also present.