Samsung to Invest INR 1970 Crore in Noida

South Korean electronics giant, Samsung signed a Memorandum of Understanding (MoU) with the Uttar Pradesh government to expand the capacity of its Noida plant at an investment INR Rs 2,000 crore.
“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,” said President and CEO of Samsung India, HC Hong,
The MoU was signed in the presence of chief minister Akhilesh Yadav, who told that the fresh investment would create more jobs for the youth in the region.
The industrial policies of the state government had spurred flow of investment to UP claimed Akhilesh Yadav.
Yadav recalled Samsung had begun operations at its Noida plant in 1996 after the process of economic liberalization was stoked in the country terming Noida as a leading industrial hub of India. The plant had significantly helped create thousands of jobs, while Noida also made to a global recognition as an industrial town for itself.
Giving the demonstration of mobile phones, the CM said that the trend of keeping more than one phones was fast catching on with consumers, which spelt more sales for handset manufacturers.

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