NE BUSINESS BUREAU
AHMEDABAD, OCT 17
Days after the Centre had announced the import of air conditioners and TVs, Gujarat-based electronics major ABAJ Group and QThree Ventures on Friday announced they will set up a state of the art facility – ABAJ-QThree Techpark – to manufacture LED televisions and air conditioners in Gujarat, a joint release said.
After virtually inaugurating the groundbreaking ceremony, Chief Minister of Gujarat Vijay Rupani said, “The state of Gujarat has always worked towards promoting the ease of doing business. Our youth and business people have always had an entrepreneurship mindset, helping us reach great heights in this area.
I welcome the ABAJ-QThree Techpark to Mehsana. This world-class facility will help put our country on the global map with the potential of becoming an electronics manufacturing hub for the world. I take pride in having such facilities in the state of Gujarat. I congratulate ABAJ Group and QThree Ventures for this landmark facility, which will help create jobs for thousands of citizens.”
The facility, spread across 13 acres, will be outfitted with robotic technology and machinery to meet a demand of 25 lakh LED TVs and 6lakh air conditioners annually. ABAJ-QThree Techpark will also have a state-of-the-art research and development unit, creating an ecosystem for electronics manufacturing in the country. The project will provide employment opportunities for up to 4,500 people. ABAJ Group and QThree Ventures will be investing Rs. 1,000 crores over three years to set up this facility.
ABAJ-QThree Techpark will manufacture owned brands of ABAJ Group and QThree Ventures as well as serve as a contract manufacturer for any brand looking to manufacture consumer electronics products. The facility will be an assembly-based manufacturer of LED TVs, with local sourcing of components. With this, the ABAJ-QThree Ventures aims to touch a Rs 1,000 crore annual turnover by 2022. The company also plans to expand its production capabilities to cover consumer electronic products such as refrigerators, washing machines, etc. The facility will be equipped with robotic machine technology for the manufacturing and assembling of panels for TVs.
The plant is located in Mahesana, 35 km from Ahmedabad in Gujarat – near the upcoming Delhi-Mumbai industrial corridor that enables easy connectivity among six different states in India.
The ABAJ Group is a leading Indian electronics manufacturing entity based in Gujarat. The company established a manufacturing hub called ABAJ Techpark – aimed at building best-in-class electronic products for customers. QThree Ventures has merged with the ABAJ Group to set up ABAJ-QThree Techpark strengthening their manufacturing capabilities and creating employment opportunities in the country.
Speaking on the partnership, Nirav Patel – Founder & CEO, ABAJ Group, said, “We are delighted to partner with QThree Ventures to set up ABAJ-QThree Techpark. Our government’s vision of ‘Make in India, Make for the World’ inspired us to work towards creating an electronics manufacturing hub in India. ABAJ-QThree Techpark will be equipped to manufacture LED televisions for any brand worldwide. Equipped with best-in-class technology and robotics machinery, we are ready to help put India on the map as a manufacturing hub.
Speaking on the new entity Jubin Peter, Founder, and Chairman, QThree Ventures said, “We are delighted to join hands with the ABAJ Group and establish ABAJ-QThree Techpark. Domestic manufacturing is getting a massive push from the government, to make our country ‘atmanirbhar’. The ABAJ Group has a solid manufacturing unit in place and is already producing a line-up of high-tech televisions. By partnering with them to create a world-class facility, we endeavor to bring the best of global expertise and manufacturing capabilities, complemented with our network across India, to present consumers with affordably priced consumer electronics goods in India.”
