On Tuesday, Mitsubishi Electric Corp said it would invest about Rs 200 crore (3.1 billion yen) in its Indian unit to build a new plant in Maharashtra. The new factory will be located near Pune in Maharashtra.

The Japanese electrical and electronics maker said in a statement that its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products. The new factory will be located near Pune in Maharashtra.

It added that the plant is expected to start operations in December 2023 and will expand the company’s production capacity to meet growing demand in India.

“The fast-growing Indian market is expanding at an annual rate of about 8%, mainly in industries such as automotive, food and beverage, pharmaceuticals, data centres and textiles, and the market is expected to expand further in the future,” it said.

The new two-floors, 15,400 square-meter factory will be built on a 40,000 square-meter site near Pune. “This will help expand Mitsubishi Electric’s production capacity to meet local demand for products and contribute to the ‘Make in India’ initiative promoted by the Indian government,” the statement said.

In addition, the facility will achieve various functions of carbon neutrality through the use of efficient air conditioning systems and LED lighting to reduce carbon dioxide emissions. It will also meet the Sustainable Development Goals (SDGs) through underground filtration, treatment and greening to reuse wastewater.

Mitsubishi Electric India is engaged in the development, manufacturing, sales and after-sales service of FA control system products, sales and after-sales service of air conditioners, semiconductors, manufacturing, sales and after-sales service of railway electrical products for railway vehicles.

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Headquartered in Tokyo, Mitsubishi Electric Corporation is a global leader in electrical and electronic equipment for information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. The company posted a revenue of 4,476.7 billion yen ($36.7 billion) in the fiscal year ended March 2022.