- The export-oriented unit (EOU) is expected to be ready by January-February 2021
- The project is expected to create nearly 1,500 jobs
According to a report by the Business Standard, Samsung will invest nearly Rs 5,000 crore in a smartphone display manufacturing facility in Noida. It added that the export-oriented unit (EOU) is expected to be ready by January-February 2021. It will attain commercial production by April 2021.
The report added that UP industrial development minister Satish Mahana said that so far, the company has already invested about Rs 1,500 crore in the greenfield plant. He added that once the unit is operational, India would become only the third country in the world having Samsung’s smartphone display manufacturing facility. He also claimed that the plant was among the big projects, which had shifted to India post covid-19 outbreak in China. He added that the project is expected to create nearly 1,500 jobs.
Samsung has already invested about Rs 1,500 crore in the greenfield plant
As per the report, Samsung Display Noida was incorporated for the business of manufacturing, assembling, processing and sales of displays. It added that previously, according to the company’s regulatory filings before the Registrar of Companies (RoC), 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.