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Samsung to invest Rs 1,970 cr in Noida

The Uttar Pradesh cabinet has approved Samsung's investment under Super Mega A by the state's Cabinet Committee in Lucknow today.

Mail Today Bureau   New Delhi     Last Updated: October 18, 2016  | 09:49 IST
Samsung to invest Rs 1,970 cr in Noida

Samsung to pump Rs 1,970 cr to boost Noida facility capacity Lucknow, Oct 17 : Samsung plans to invest Rs 1,970 crore over the next three years to double the manufacturing capacity at its Noida facility.

The Uttar Pradesh cabinet has approved Samsung's investment under Super Mega A by the state's Cabinet Committee in Lucknow today.

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In line with our commitment to 'Make in India', we are pleased to receive the UP government's approval to invest in the state and expand our manufacturing base here in India, said Samsung India President and CEO HC Hong.

The investment is expected to help Samsung ramp up its manufacturing capacities across product lines like refrigerators, mobile phones and LED TVs.

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. We are witnessing an increase in the adoption of electronic devices, appliances and mobile phones, he added.

In association with Mail Today Bureau

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