Hong Kong stock exchange-listed consumer electronics major TCL Electronics Holding plans to establish a washing machine manufacturing unit in joint venture with home-grown Resojet in Telangana.
For TCL, which is based out of Hefei, China, this would be its first overseas manufacturing facility for washing machines and over time likely to be expanded to make other consumer appliances, including refrigerators and dishwashers. As a step towards the manufacturing joint venture, Resojet and TCL have entered into a memorandum of understanding.
The proposed facility will be set up in E-City, Raviryal, near Hyderabad and entail an investment of ₹225 crore. In the first phase, it is expected to generate jobs for over 500 people, Industries and IT Minister K.T.Rama Rao’s office said in a release on Wednesday. The Minister participated virtually in the MoU programme.
