China firm to invest Rs 1,350cr in Ahmednagar

Pune: Chinese consumer appliances maker, Midea Group, will invest Rs 1,350 crore over the next five years at the Supa Parner MIDC area in Ahmednagar district, about 80km from here, to set up a technology park.
Over 50% of this investment will happen within the first year of the company starting operations at the plant. The company expects the commercial operations to start by April 2020 and aims at providing direct and indirect employment to over 2,000 people over five years.
Krishan Sachdev, MD, Carrier Midea India and Midea Group, India Region, said the company has received a whole set of incentives from the state and the central government.
“We got benefits like duties and taxes for purchase of electricity, lower stamp duty on purchase of land, among others,” he said.