India-based Anchor Electricals, a wholly owned subsidiary of the Japanese electronics company Panasonic Corp., intends to infuse 600 crore rupees ($85.1 million) by 2025 to set up a new facility in Andhra Pradesh.

As part of the investment, Anchor will use $35.5 million to establish an electrical construction material and appliances manufacturing plant.

Anchor Electricals said that it inked a memorandum of understanding with Andhra Pradesh Economic Development Board to set up the plant in a new 30-acre factory in Sri City.

The facility will mainly manufacture fans, wiring devices and switchgear and will cater to Central and South Indian markets.