Skyworth to set up $100-million plant in Telangana state

Hyderabad: Skyworth group, a $5-billion China-based consumer electronics manufacturer, on Friday signed an MoU with the Telangana Government for setting up a manufacturing facility with an investment outlay of $100 million in a phased manner.

The facility, which will come up in 50 acres, will manufacture wide array of products, including LED TVs, set-top boxes, lithium batteries and complete range of white goods. The plant will be set up under the name Radiant Appliances and Electronics Pvt Ltd, an official statement said.

Telangana IT Minister KT Rama Rao said Skyworth will generate employment opportunities for more than 5,000 people.

"Availability of skilled manpower, best law and order, latest infrastructure and excellent national and international connectivity makes Hyderabad the most favourable destination for industrial investment," the Minister said.

Lai Weide, Board Chairman, Skyworth, said: "Skyworth is highly encouraged by the electronics manufacturing industry supportive policies of Telangana government.

Along with upscaling of the skills of the local people, Skyworth will undertake socially responsible initiatives".

Wang Zenjun, company's Executive Vice President, commented that India was very strategic market under Skyworth Global Expansion plan.

"IoT products of Skyworth & Metz are well received by Indian consumers.

Skyworth is committed to Indian Markets and would continue to make substantial investments in India market in a phased manner," he explained.