Samsung to Invest Rs. 4,915 Crore to Increase the Production Capacity in its Noida Manufacturing Plant

South Korean smartphone giant, Samsung today announced that it would be investing a whopping Rs. 4,915 crore in India to revamp its Noida manufacturing plant, where the company manufactures smartphones, refrigerators, and televisions in the country.

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Samsung says that this investment reaffirms Samsung’s commitment to ‘Make in India’ and ‘Make for India’ program initiated by the Government of India. The Noida plant is the Company’s first of two manufacturing units in India and was set up in 1996.

Also, Samsung is expanding the plant with additional 35 acres of land adjacent to the current facility, which will double the production capacity of both phones and other Samsung products. The expansion will consolidate the company’s leadership in the mobile phones and consumer electronics segment. The investment proposal was recently approved by the Uttar Pradesh government under its Mega Policy.

Samsung also made a grand opening ceremony at the newly expanded site. Samsung’s Noida plant was one of the first electronics manufacturing facilities set up in India in the early 1990s. The plant started with the production of televisions in 1997. The current mobile phone manufacturing unit was added in 2005.

Furthermore, 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. Samsung prides itself in being a key pillar of the Government’s ‘Make in India’ and ‘Digital India’ initiatives.