Taiwanese manufacturer to invest €125 million in India
The board of directors of EMS provider Pegatron, possibly best know as one of Apple’s largest manufacturers, has decided to approve a EUR 125 million plan to set up manufacturing operations in India.
According to a filling with the Taiwanese stock exchange, the company is planning to invest INR 10.98 billion (EUR 125 million) in setting up its Indian subsidiary. The filling does not disclose much further information regarding the venture, other than the company describing it as a “Long-term investment”. However, according to a report in the Taipei Times the investment will result in the set up of a new manufacturing plant which is – currently – planed to start production during the second half of 2021, or potentially in 2022. the are currently no official information detailing what will roll out of the new Indian plant once its up and running. “This is just the initial investment,” CEO Liao Syh-jang said during a ivrtual investors’ conference. “Due to the COVID-19 situation, it has been harder for Pegatron staff to visit India, resulting in delays,” the report form the Taipei Times continues.