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Press Release: New Delhi,
November 9, 1999 |
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CHINESE COMPANY
INVESTS IN GREATER NOIDA: HOTLINE GROUP SIGNS JV WITH QUINGDAO HAIER
OVERSEAS ELECTRONICS LIMITED
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Greater Noida is strategically located on the fringes of NCR Delhi and falls within the NCR. The
objective of Greater Noida is to develop an integrated model industrial township promoting non-polluting and high technology oriented industries.
The advantages of Greater Noida are many. The main ones
- Excellent connectivity with Delhi,
Faridabad, Ghaziabad, Noida through Expressway and wide roads.
- Privatised Power Distribution Network.
- Container Freight Station.
- Optical Fiber Cable and Digital Microwave Systems.
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| Greater Noida has been considered preferred destination by foreign investments. Already
Rs. 7500 crores of investment is in place. Its single table clearances for finance, pollution, land allotment, trade tax exemption etc give industry a smooth sailing. Competitive land rates coupled with attractive production incentives and tax incentives make Greater Noida Authority an attractive location for investment. |
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| Latest addition to its distinct clientele is M/s Hotline Haier Appliances Limited, perhaps the first
Chinese investment in Uttar Pradesh. |
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| Hotline Group has signed a Memorandum of Understanding with Qingdao Haier Overseas Electronics Ltd. for manufacturing and marketing
of various White Goods and Brown Goods such as Air-conditioners, Washing
Machines, Refrigerators, Microwave Ovens, Deep Freezers, Colour Televisions etc.
Hotline Group is engaged in manufacturing and marketing of Black & White Television, Picture Tubes, Glass Parts, Colour Video Projectors, Colour Televisions as OEM, Colour Picture Tubes, Tuners for Colour and
Black & White Televisions, Electrical Control Gear Accessories, etc. The present turnover of the group is approx. 1500 crores. |
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| Haier Group is manufacturing and marketing a wide range of Appliances. Haier is a 3 billion US$ Group, having export base in 84 countries all over the world. The products and technology of Haier is latest and all the products are of international quality standards.
The new Joint Venture Company, Hotline Haier Appliances Limited will have an initial investment of Rs. 50 crores which is expected to go beyond Rs. 3000 crores with
backward integration in phases. The investment ration of this Joint Venture would be 70:30 where 705 is Hotline and 30% is Haier. The Company has already acquired 30 acres of land in Greater Noida and started construction on 23rd August1999. The company's target is to complete the building by 31st December 1999. The Company plans to start production
with effect from 1st April, 2000. |
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| Till the Company starts its own production in Greater Noida, it has planned to launch its products by importing
CBU (Completely Built Units) from Haier. The company's present plan to launch the products on all India basis through
Distributors / Dealers in November 1999.
This project will be implemented in three
phases. In the first phase, assembly lines of all the products will be completed and the final products will be assembled from the CKD by importing
critical components. In the Second and Third phases, the company will start producing all the major components in-house by installing the additional required Equipments and Machines for production of such components. |
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| For further information, please contact:
Renuka Chohan
Greater Noida Industrial Development Authority
Phone: 91-11-8551 581 |
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