Prama HIKVision India LTD to invest Rs 500 Cr in AP

The government of Andhra Pradesh signed an MoU with Prama Hikvision India Limited, a joint venture between Prama India and Hangzhou Hikvision Digital Technology at the Round Table Session at Taj Mahal Place Hotel, Mumbai.

Headquartered in Mumbai, Prama Hikvision is committed to provide high-quality products with sound technical support serving a large network of dealers and system integrators across India, through its 51 branches and a workforce of about 700 employees.

The company is looking to treble its capacity to make cameras by expanding its manufacturing footprint in India to meet a steady increase in demand for cameras and digital video recorders.

The Company wishes to invest in a manufacturing facility for electronic security and surveillance and other latest electronic equipment tuned to the capacity of approximately 15-20 lakhs cameras and recording back-end devices production per month in the State of Andhra Pradesh.

The project will bring an investment of approximately Rs 500 Cr, which is expected to generate 1,000 direct and indirect jobs and more in auxiliary industries.