CRANBAL Investments has begun assembling refrigerators in the country and plans to assemble television sets next year, sources have said.
BY VICTORIA MTOMBA
In May, Cranbal Investments signed a $10 million deal with South Korea-based electronics giant Samsung to set up a television and refrigerator assembly plants locally.
Cranbal Investments has a majority stake in ART Corporation.
Initially the assembling of refrigerators and television was set for January next year.
“The assembling of the refrigerators began in October and four different types have been assembled and a fifth one is expected this week. The plant has been set up in Graniteside instead of Sunway City. The assembling of televisions is now at an advanced stage and will commence next week,” sources have said.
When the NewsDay team visited the plant yesterday in Graniteside, officials declined to comment, saying they would call the newspaper when they are ready.
The company is expected to spend $1 million on the fridge assembly plant and that would involve putting together 15 parts to make chest freezers and the 3050 TMF model.
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The knockdown kits for the first year of operation are valued in the range of $7 million financed from Korea. The two investments are expected to create 120 jobs directly.
Locals have been travelling to neighbouring countries to buy refrigerators and television sets and in most cases they are expensive. The coming of the plant would help customers access televisions and fridges readily at affordable prices.
Early this year, Innscor’s subsidiary Capri launched a new refrigerator plant worth $12 million that would increase the company’s output and help it expand in the region.
The investment increases Capri’s production levels to 18 000 units from 5 000 units per month. The company expects the domestic market to take up to 30% of production and the rest would be for the export market.
