South Korean consumer electronics major Samsung will invest nearly Rs. 5,000 crore in a smartphone display manufacturing facility in Noida.
The export-oriented unit (EOU) is expected to be ready by January-February 2021 and attain commercial production by April 2021.
“So far, the company has already invested about Rs 1,500 crore in the greenfield plant. Once the unit is operational, India would become only the third country in the world having Samsung’s smartphone display manufacturing facility,” UP industrial development minister Satish Mahana said here.
He claimed the plant was among the big projects, which had shifted to India post covid-19 outbreak in China. The project is expected to create nearly 1,500 jobs.
Samsung Display Noida was incorporated for the business of manufacturing, assembling, processing and sales of displays (including parts, components and accessories) for all types and sizes of electronic devices. Earlier, Samsung India Electronics, the Indian unit of the electronics major, had transferred a land parcel of 65,000 sq metres apart from granting a loan of Rs. 3,500 crore to Samsung Display, according to the company’s regulatory filings before the Registrar of Companies (RoC). “We are following up with all the other companies and investors, who have proposed to invest in UP in different sectors,” Mahana told Business Standard.
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