Videocon Industries to commence production at Tamil Nadu plant

Videocon Industries, the home appliances manufacturer’s plant in Tamil Nadu will start production in next 3-4 months. Earlier in 2010, it had inked a MoU with the Tamil Nadu Government for setting up the plant at an investment of Rs 1,500 crore.

The company is going to manufacture LCD Plasma TV sets and other electronic goods and spares at the plant, which is coming up in Manamadurai SIPCOT Industrial Park, near Madurai. It is planning to recruit about 700 people once the plant becomes operational.

Videocon Industries, established two decades ago, is a global conglomerate with market capitalization of $2.5 billion. Videocon’s businesses’ consists of manufacturing, marketing and distribution of consumer electronics products and oil & gas extraction.