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Samsung Electronics Invests Rs 1,970 Crore in its Noida Plant

News18.com

First published: October 17, 2016, 9:08 PM IST | Updated: October 17, 2016
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Samsung Electronics Invests Rs 1,970 Crore in its Noida Plant
The Government of Uttar Pradesh approved the investment by Samsung India Electronics under Super Mega A by the state’s Cabinet Committee in Lucknow. (Image: Reuters)

Samsung India Electronics today announced expansion of its Noida plant with an investment of Rs 1,970 crore, strengthening its commitment to ‘Make in India’ and ‘Make for India’.

The Government of Uttar Pradesh approved the investment by Samsung India Electronics under Super Mega A by the state’s Cabinet Committee in Lucknow today. A Memorandum of Understanding was signed between Uttar Pradesh Chief Secretary, Rahul Bhatnagar and HC Hong, President & CEO, Samsung India Electronics, in the presence of Chief Minister Akhilesh Yadav.

“Noida is the symbol of Uttar Pradesh and India’s industrialization and growth ever since the economic liberalisation twenty years ago. Samsung has been our partner in this growth right since 1996. It has created thousands of jobs, supported business, developed the service sector, and helped give global recognition to Noida. Today’s MoU is yet another step in converting Noida into the electronics hub of India. I am happy Samsung is pioneering this transformation yet again,” said Chief Minister Akhilesh Yadav.

“A bigger and more robust manufacturing facility will help us address the needs and demands of our growing customer base across the country and the region. We plan to further the Samsung innovation promise across our Refrigerator, Mobile and LED TV range,” said HC Hong, President and CEO of Samsung India.

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