Monday, October 17, 2016
Samsung Invests Rs 1,970 Crore in Noida, Strengthens Make in India
Samsung India Electronics has 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 and CEO, Samsung India Electronics, in the presence of Chief Minister Akhilesh Yadav.
Speaking on the occasion, Akhilesh Yadav, said, “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.”
HC Hong, President and CEO of Samsung India, said, “In line with our commitment to ‘Make in India’ and living by our promise to ‘Make for India’, we are pleased to receive the Uttar Pradesh Government’s approval to invest in the state and expand our manufacturing base here in India. As digitization expands across the country, we are witnessing an increase in the adoption of electronic devices, appliances and mobile phones. 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, offering the latest and best of the world to our customers.”
Samsung started its Noida plant in 1996 and continues to provide cutting edge technology and enriching experiences for customers across India from the Noida plant, with a large ecosystem of suppliers in the National Capital Region. As a responsible citizen, Samsung is involved in community development around the facility at Noida and across the state of Uttar Pradesh through contributions to education, skill development and healthcare initiatives.