Samsung to invest Rs. 4,915 Crore in Noida facility

Samsung Electronics today announced an investment of Rs. 4,915 crore in India for smartphones, refrigerators and flat panel televisions.

Samsung’s investment reconfirms its commitment to ‘Make in India’ and ‘Make for India’ and to the state of Uttar Pradesh.

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, further consolidating Samsung’s leadership in the mobile phones and consumer electronics segments. The investment proposal was recently approved by the Uttar Pradesh government under its Mega Policy.

A groundbreaking ceremony and traditional puja was held at the new site today in the presence of Ravi Shankar Prasad, Minister of Electronics and Information Technology and Law & Justice; Satish Mahana, Minister of Infrastructure & Industrial Development, Government of Uttar Pradesh; Amitabh Kant, CEO, NITI Aayog; J.K. Shin, CEO, Samsung Electronics; H.C. Hong, President and CEO, Samsung Southwest Asia; and others were present.

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.

H.C. Hong, President and CEO, Samsung Southwest Asia said, “This new investment of Rs. 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. 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.”

Samsung has effectively consolidated its position in India with two factories-in Noida and Sriperumbudur, Tamil Nadu, five R&D centres and one design centre in Noida, employing over 70,000 people and expanding its network to over 1.5 lakh retail outlets.