Anchor Electricals

Anchor Electricals, a subsidiary of Panasonic Corporation, signed an MoU with Andhra Pradesh to set up a new manufacturing facility in Sri City, with a planned investment of ₹600 crore by 2025, including ₹250 crore in the first phase.

Anchor Electricals, a Panasonic subsidiary, will invest approximately ₹200 crore to build a new 30-acre factory in Sri City, Andhra Pradesh. The plant will produce fans, wiring devices, and switchgear, and is expected to start operations in 2020, creating up to 2,000 jobs.

Anchor Electricals, part of Panasonic Corp, announced an investment plan of Rs 400 crore over three years, including Rs 150 crore in the current fiscal year, for capacity expansion and new product launches. The company aims to double revenue to Rs 5,000 crore in five years.

Anchor Electricals, a subsidiary of Panasonic, commenced operations at a new manufacturing unit in Haridwar, India, with an investment of INR 150 crores. The plant will produce wiring devices and switchgear, with a monthly capacity of 25 million units.