Micromax Informatics, a Gurgaon-based mobile handset maker, has decided to pump Rs 300 crore in the current fiscal for building a production plant in Himachal Pradesh and brand building exercise.

The company stated in a communiqué that out of Rs 300 crore, it will invest Rs 250 crore to set up a mobile phone manufacturing plant in Himachal pradesh (Baddi) and another Rs 50 crore on brand-building exercise.

The sources said that the plant which will be functional by March, next year, would have a capacity of producing three lakh units of handsets a month.

At present, the company is doing contract manufacturing in China, Korea, Taiwan and Himachal Pradesh (Baddi).

As per media reports, the company is also spending Rs 50 crore on advertising, which will be a 360-degree campaign, for brand building.