UP Government provides approval Samsung to invest Rs 1,970 cr in Noida over manufacturing unit
Korean smartphone Samsung is ready to invest at least Rs 1,970 crore in its manufacturing unit in Noida. This move will assist Samsung to start exporting from India.
The Uttar Pradesh government on Tuesday has approved Samsung ' s investment under Super Mega A project by the state ' s Cabinet Committee in Lucknow of Uttar Pradesh.
CEO HC Hong who is also Samsung India President said, “We are very happy to get the Uttar Pradesh government ' s approval to invest over manufacturing unit in the state and expand our manufacturing base here in India.”
Although, the company did not disclose details, but according to sources the investment will assist Samsung enhance its manufacturing capacities across product units such as refrigerators, mobile phones and LED TVs.
They added that Samsung will get an additional 1.3 lakh sqm for the expansion, a move that will generate additional employment for 2,200 people.
Samsung ' s mobile phone manufacturing capacity alone will be doubled from 6 million units a month now to 12 million over the course of time, Uttar Pradesh Chief Secretary Rahul Bhatnagar said.
He added, “We are witnessing an increase in the adoption of electronic devices, appliances and mobile phones. A bigger and more compulsive manufacturing facility will assist us address the needs and requirements of our growing customer base across the country and the region."
Samsung Company had established its Noida plant in 1996 and in 1997 when the television was manufactured. The company has two factories, three R&D centers and a design center, employing over 40,000 people in India.
UP Chief Minister Akhilesh Yadav said, "Today ' s MoU is yet another step in converting Noida into the electronics centre of India."