>>     >>   Samsung to invest Rs 4,915 crore to double production at Noida plant

Samsung to invest Rs 4,915 crore to double production at Noida plant

Consumer electronics major Samsung said it will invest Rs 4,915 crore to double its manufacturing capacity for smartphones and refrigerators at its Noida (UP) plant.


By   |  Updated On : June 07, 2017 08:11 PM
Samsung to invest Rs 4,915 crore to double production at Noida plant (Source: PTI)

Samsung to invest Rs 4,915 crore to double production at Noida plant (Source: PTI)

New Delhi :  

Rs 4,915 crore will be invested to double the manufacturing capacity for smartphones and refrigerators at Noida (UP) plant, consumer electronics major Samsung on Wednesday said.

The Korean chaebol said that the investment would position the Noida plant as a major production hub and create about 5,000 new jobs.

As a result of the investment spread over the next two years in the Noida factory, the production capacity of smartphones will rise to 12 million units a month from the existing 5 million.

The capacity for refrigerators would double to 3 million units per annum (against 1.5 million at present), and for TV panels to 2.6 million units (from 1.3 million), an official said.

Read more: Samsung Gear Fit2 gets massive updates; equipped with new workout tracking features, heart-rate zones

"The investment reaffirms Samsung's commitment to Make-in-India and Make-for-India and to the state of Uttar Pradesh", a company statement said.

The Noida plant was was set up in 1996 and is the first of two manufacturing units in India for the company. The plant started with the manufacture of televisions way back in 1997, and mobile phone manufacturing unit was added in 2005.

"The expansion of the plant on an additional 35 acres of land adjacent to the current facility will double the production capacity of both mobile phones and refrigerators...", the statement said.

Besides the factory in Noida, Samsung also has a production unit in Sriperumbudur, Tamil Nadu, five R&D centres and one design centre in Noida, employing over 70,000 people.

The company's investment proposal was recently approved by the UP Government under its Mega Policy.

"The expansion of the plant will act as a catalyst for the development of a robust electronics manufacturing ecosystem and is expected to generate thousands of new jobs, both direct and indirect, across the country", the statement added.

Read more: Samsung investigates Galaxy S8 'iris hack' claims by German group

The groundbreaking ceremony was held at the new site on Wednesday in the presence of Electronics and IT Minister Ravi Shankar Prasad, and NITI Aayog CEO Amitabh Kant.

Speaking on the occasison, HC Hong, President and CEO of Samsung Southwest Asia, said, "A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country".

First Published: Wednesday, June 07, 2017 07:35 PM


Download the News Nation Mobile App and stay connected with top stories from India and around the world. Available on Android and IOS.


NEXT STORY