PG Electroplast subsidiary to invest ₹1,000 crore in Maharashtra manufacturing

PG Electroplast's step-down subsidiary, Next Generation Manufacturers Pvt Ltd, has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to invest ₹1,000 crore in a greenfield project. This investment will establish a state-of-the-art consumer electronics manufacturing facility at Kamargaon, Ahilyanagar.

The project, part of the 'Magnetic Maharashtra' initiative, is expected to create over 5,000 direct and indirect employment opportunities. The new facility will integrate manufacturing capacities for air conditioners, washing machines, refrigerators, and allied products, significantly boosting the consumer electronics ecosystem in western India.

The signing ceremony was attended by key dignitaries, including Maharashtra chief minister Shri Devendra Fadnavis. Vishal Gupta, managing director – finance, PG Electroplast, emphasized the group's commitment to world-class manufacturing in India.