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Direct-selling Fast and Moving Consumer Goods (FMCG) firm Amway's first manufacturing facility in the country formally went on steam with its inauguration by Tamil Nadu Chief Minister J Jayalalithaa on Monday. The unit has been set up with an investment of Rs 550 crore.
Amway India, the subsidiary of the US-based Amway Corporation, has set up the factory at State Industries Promotion Corporation of Tamil Nadu's (SIPCOT) Industrial Park in Nilakottai, Dindigul district, on 50 acres of land. With an investment of Rs 550 crore, the facility will create 500 direct and 1,000 indirect jobs, an official release said.
The company had signed a similar Memorandum of Understanding (MoU) with the Tamil Nadu government in November 2012 to set up a manufacturing facility at Rs 350 crore, but it scaled up the investment to Rs 550 crore, considering an "industry-friendly climate", and signed the pact with the state government during the Global Investors Meet in September.
"Through a video-conference facility from Secretariat, Jayalalithaa formally inaugurated the factory. With the setting up of the factory, 5.50 lakh independent Amway business owners stand to benefit," the release said.
"Amway plant is most impressive. I wish you great success," Jayalalithaa said after the inauguration.
"The manufacturing facility can handle a turnover of Rs 6,500 crore to meet the needs of the Indian consumer. A state-of-the-art research and development laboratory is being explored for the facility, raising the site's importance," the statement said.
The factory, to be the third plant outside the US for Amway, also has the Leadership in Energy and Environmental Design (LEED) Gold certification for environmental and design efficiency.
Amway India's first manufacturing facility goes on stream in Tamil Nadu | Latest News & Updates at Daily News & Analysis
Amway India, the subsidiary of the US-based Amway Corporation, has set up the factory at State Industries Promotion Corporation of Tamil Nadu's (SIPCOT) Industrial Park in Nilakottai, Dindigul district, on 50 acres of land. With an investment of Rs 550 crore, the facility will create 500 direct and 1,000 indirect jobs, an official release said.
The company had signed a similar Memorandum of Understanding (MoU) with the Tamil Nadu government in November 2012 to set up a manufacturing facility at Rs 350 crore, but it scaled up the investment to Rs 550 crore, considering an "industry-friendly climate", and signed the pact with the state government during the Global Investors Meet in September.
"Through a video-conference facility from Secretariat, Jayalalithaa formally inaugurated the factory. With the setting up of the factory, 5.50 lakh independent Amway business owners stand to benefit," the release said.
"Amway plant is most impressive. I wish you great success," Jayalalithaa said after the inauguration.
"The manufacturing facility can handle a turnover of Rs 6,500 crore to meet the needs of the Indian consumer. A state-of-the-art research and development laboratory is being explored for the facility, raising the site's importance," the statement said.
The factory, to be the third plant outside the US for Amway, also has the Leadership in Energy and Environmental Design (LEED) Gold certification for environmental and design efficiency.
Amway India's first manufacturing facility goes on stream in Tamil Nadu | Latest News & Updates at Daily News & Analysis
