Samsung Electronics Co. Ltd. plans to invest Rs 4,915 crore in expanding its manufacturing facility in Noida for doubling its production capacity of smartphones and refrigerators by 2020.
The company currently produces 50 lakh smartphones and 15 lakh refrigerators from the Noida plant annually.
Samsung manufacturers refrigerators and smartphones out of its existing unit in Noida, and the additional capacity added would also cater to the same products, Deepak Bhardwaj, vice-president, Samsung Electronics India, told reporters at the ground breaking ceremony of the plant.
The company said the plant would cater to both, domestic demand, as well as exports, but did not provide a break-up of the same out of its existing facility.
“The expansion would result in 5,000 more jobs,” Bhardwaj said.
The government aims to make India a $1 trillion digital economy in the next 5-7 years and Samsung would help in achieving the target, Information Technology and Electronics Minister Ravi Shankar Prasad, who was also present at the event, said.
The company has a second manufacturing unit close to Chennai, Tamil Nadu, five research and development centres. Samsung employs 70,000 people in India, the company said.
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