Samsung has announced an investment of INR 4,915 crore in India which will be used to add fresh capacity at Samsung’s Noida plant, where the company manufactures smartphones, refrigerators and flat panel televisions. The investment proposal was recently approved by the Uttar Pradesh government under its Mega Policy.
The company said that the investment would position the Noida plant as a major production hub and create about 5,000 new jobs. Set up in 1996, the Noida plant is Samsung’s first of two manufacturing units in India. It started with the manufacture of televisions in 1997 while the current mobile phone manufacturing unit was added in 2005. The expansion of the Noida 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 investment will help the company step up production capacity of its smartphones 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 told Press Trust of India.
HC Hong, President and CEO, Samsung Southwest Asia, said,
This new investment of INR 4,915 crore is a testament to our continuing commitment to ‘Make in India’ and to Uttar Pradesh, which has been our partner right from the day Samsung’s journey in India began. Steadfast support from the state and local authorities in Noida has helped make our vision of ‘Make for India’ a reality. Today, on the back of the Digital India movement led by millions of young Indians, we are witnessing a rise in adoption of electronic devices, smart appliances and mobile phones. A bigger manufacturing plant will help us cater to the growing demand for Samsung products across the country.