South Korean consumer electronics major Samsung will invest nearly Rs 5,000 crore in a smartphone display manufacturing facility in Noida.
The export-oriented unit (EOU) is expected to be ready by January-February 2021 and attain commercial production by April 2021.
“So far the company has already invested about Rs 1,500 crore in the greenfield plant. Once the unit is operational, India will become the third country in the world to have Samsung’s smartphone display manufacturing facility,” UP Industrial Development Minister Satish Mahana said here.
He said the plant was among the big projects that had shifted to India post-COVID-19 outbreak in China.
The project is expected to create nearly 1,500 jobs.
Samsung Display, Noida was incorporated for the business of manufacturing, assembling, processing and sales of displays (including parts, components and accessories) for all types and sizes of electronic devices.
Earlier, Samsung India Electronics, the Indian unit of the electronics major, had transferred a land parcel of 65,000 square metres apart from granting a loan of Rs 3,500 crore to Samsung Display.
The minister said the state government was in touch with all the other companies and investors who had proposed to invest in UP in different sectors.