The export-oriented unit (EOU) is expected to be ready by
January-February 2021 and attain commercial production by April 2021.
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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