PG Technoplast Pvt Ltd acquires a 50-Acre Land Parcel in Sri City, Marks Landmark Expansion into South India

PG Electroplast Limited ("PGEL") through its Wholly Owned Subsidiary PG Technoplast Private Limited ("PGTL"), one of India's fastestgrowing contract manufacturers and ODMs, today announced the acquisition of a 50-acre land parcel in Sri City, Andhra Pradesh. This marks a landmark moment for the PG Group, as it establishes the company's first facility in South India and represents its largest land acquisition to date.

At the outset, PGEL plans to invest around ₹1,000 crore in developing this state-of-the-art integrated manufacturing campus over the next 5 years. Strategically located near Chennai port, the facility will not only strengthen PGEL's pan-India manufacturing footprint but also support long-term export opportunities.

The first phase will focus on a refrigerator plant with an annual capacity of 1.2 million units, with commercial production expected by December 2026. The site is also being designed to accommodate future expansion into air conditioners, washing machines, and other home appliances and electronics.

Commenting on the development, Mr. Vikas Gupta, Managing Director - Operations, said: "This is an emotional and proud milestone for the PG Group. Sri City marks our very first step into South India and also our largest land acquisition so far. It reflects our deep commitment to building for the long term, not just for our customers but also for the communities we will engage with. The facility's scale, its proximity to the port, and its potential for exports make this a transformative chapter in our journey."

The facility is expected to generate over 500 jobs in the region in the first phase and further contribute to Andhra Pradesh's industrial growth and India's vision of Atmanirbhar Bharat.

Source : Equity Bulls

Keywords

PGElectroplast PGTechnoplast Acquisition LandParcel 50Acres SriCity AndhraPradesh