Veira, a prominent consumer electronics and appliances manufacturer, has unveiled plans to invest Rs 450 crore in establishing a new manufacturing unit in Greater Noida. This strategic move aims to bolster production capacity for air coolers and washing machines, marking a significant expansion for the company.
The investment is set to ramp up the existing production capacity from 1 lakh to 5 lakh units annually for both washing machines and air coolers, according to a statement released by Veira. The new manufacturing unit is expected to play a pivotal role in meeting the growing demand for these essential household appliances.
Veira, known as a contract manufacturer, has established itself as a trusted partner for numerous Indian and global brands. The company currently manufactures air coolers for 23 brands and washing machines for 25 brands, showcasing its extensive capabilities and industry expertise.
With two existing facilities located in Noida’s Sector 81 and 85, covering a combined area of 5 lakh square feet, Veira has already made significant strides in the manufacturing sector. The addition of the new manufacturing unit in Greater Noida underscores the company’s commitment to innovation, efficiency, and customer satisfaction.
The expansion initiative aligns with Veira’s vision of becoming a leading player in the consumer electronics and appliances market. By investing in state-of-the-art infrastructure and technology, Veira aims to enhance its manufacturing capabilities and deliver high-quality products that cater to the evolving needs of consumers.
Commenting on the investment, a spokesperson for Veira expressed confidence in the company’s growth trajectory, stating, “We are excited to embark on this expansion journey and reinforce our position as a key player in the industry. The new manufacturing unit in Greater Noida will enable us to meet the rising demand for air coolers and washing machines while maintaining our commitment to excellence and innovation.”
The announcement of Veira’s investment in the new manufacturing unit signifies a significant milestone in the company’s growth story, signaling its readiness to embrace future opportunities and challenges in the dynamic consumer electronics market.
