Samsung Likely To Pour In Rs 1,500 crore To Manufacture Refrigerator Components In TN

- Advertisement -

Though Samsung has two plants that manufacture a wide range of electronics, the move by it to set up a dedicated unit for manufacturing components for refrigerators is considered significant

Samsung is reportedly planning to invest over Rs 1,500 crore in making refrigerator compressor units in Tamil Nadu.

A Memorandum of Understanding (MoU) to set up a manufacturing plant was recently inked between Samsung and Tamil Nadu government, however the details of the MoU have not been released. The Deccan Herald, however, has reported while citing sources that it was to establish a component manufacturing unit in the state.

- Advertisement -

The sources added that the state government has been holding talks with Samsung to expand its facilities and to invest in sunrise sectors like manufacturing of semi-conductors.

Tamil Nadu touched base with Samsung asking it to make use of the Product-linked Incentive (PLI) Scheme rolled out by the Centre to manufacture chips in the country.

Though Samsung has two plants that manufacture a wide range of electronics, the move by it to set up a dedicated unit for manufacturing components for refrigerators is considered significant.

The southern state, which currently accounts for 20 per cent of national production in electronics and hardware, feels it is placed at an “advantageous position” in attracting investments in the semiconductor space.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

5G Chipset Market to Hit $92.09B by 2030

0
Reports indicate that the global next-gen wireless processor market is on track to surpass the $100 billion mark in the coming decade. The 5G chipset...
Gursaurabh Singh, Founder of Dhruv Vidyut

“Electrifying Rural Mobility- Converting Traditional Bicycles Into E-Bikes”

0
In a conversation with Nitisha Dubey from EFY, Gursaurabh Singh, the Founder of Dhruv Vidyut, discusses their conversion kit, which can transform any conventional...
Rahul Bollini, the Founder of Bollini Energy

“Formal Contracts For Long-Term Commitments Are Not Always Necessary”

0
Bollini Energy collaborates with various companies interested in understanding the complete value chain of Lithium-ion cells. They offer technical services that span from mining...

Buzz

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

Important Sectors

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

VinFast Invests $2 Billion In India Expansion

0
Vietnamese electric carmaker VinFast expands across Asia, opening new factories in India and Indonesia, despite challenges in the competitive EV market and slowing global...

Statiq Plans 5,000 New Chargers With Hyundai, ChargeMOD, And GLIDA Partnerships

0
Chargers managed by the partner CPOs will be fully integrated into the Statiq app, providing users with clear visibility and access to an extensive...

Manufacturing

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...

Uno Minda Shines With Increased Content Per Car And EV Focus

0
Uno Minda, a key player in the auto parts industry, has demonstrated significant revenue growth, surpassing industry averages by more than double over the...