Consumer electronics and appliance OEM Videocon Industries (New Delhi, India) said it is considering a manufacturing start-up in Dubai. Several news sources reported Videocon will invest approx. U.S. $230 million. Videocon Chairman V. N. Dhoot is quoted as saying that he is invited to meet with the Prime Minister of the United Arab Emirates and the Dubai ruler to discuss the project.
Dhoot said the new facility will produce consumer durable products, but was not more specific about the goods that will be made in Dubai. In India and several other countries Videocon makes refrigerators, washing machines, air-conditioners, microwave ovens, DVD players, and CRT, plasma and LCD TVs.
The company also has diversified interests outside of consumer durables in India and apparently intends its Dubai portfolio to include power, oil and real estate businesses.
to Daily News