*NEWS*HP TO BUILD ANOTHER PLANT IN INDIA

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*NEWS*HP TO BUILD ANOTHER PLANT IN INDIA

 user 2006-10-11 at 11:15:00 am Views: 70
  • #16645

    HP to invest 1 bln rupees in 2nd Indian plant
    NEW
    DELHI, Oct 06 – Computer and printer maker Hewlett-Packard Co. said on
    Wednesday it is investing 1 billion rupees ($21.9 million) to set up a
    second plant in India to meet demand for its products.The plant in the
    northern state of Uttaranchal will have an initial output capacity of
    300,000 computers a month. It will provide employment to nearly 1,000
    people and supplement Hewlett-Packard’s existing facility in southern
    India.The unit, which will make desktops, notebooks and servers, is
    expected to be operational by March.Computer sales in India rose 32
    percent in the year to March 2006, industry data showed, on firm demand
    from sectors such as banking, information technology and
    telecommunications. Falling prices and affordable financing have also
    contributed to demand.Hewlett-Packard is one of a growing tribe of
    foreign companies that have investing in India, either to soak up local
    demand or to source talent and products in Asia’s fourth-largest
    economy.