Samsung India to invest $100 mn at new manufacturing facility

Samsung India to invest $100 mn at new manufacturing facility
PTI
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First Published: Tue, Nov 13 2007. 04 01 PM IST
Updated: Tue, Nov 13 2007. 04 01 PM IST
Chennai: Electronics major Samsung India will invest $100 million in four years at its new manufacturing facility at Sriperumbudur near here, which will be inaugurated by Tamil Nadu Chief Minister M Karunanidhi later today, a top company official said.
The company will invest $30 million in the first year to manufacture colour televisions for the domestic and export markets, H B Lee, President and VEO, Samsung South West Asia Regional Headquarters told a press conference here today.
“We will begin to manufacture home appliances like fully automatic washing machines early next year. The facility will become the global manufacturing hub for Samsung,” he said.
The company already has a facility at Noida in Uttar Pradesh.
The first phase has come up on 20 acres of land over the allotted 80 acres and will manufacture 1.5 million flat TVs per annum and 0.3 million LCD TV’s, R Zutshi, Deputy Managing Director, Samsung India Electronics Pvt Ltd said.
The facility will initially employ 300 persons, which will go upto 2,500 persons on full implementation of the project, he added.
According to him, the company will export colour TVs to Sri Lanka, Bangladesh and Nepal from this facility next year.
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First Published: Tue, Nov 13 2007. 04 01 PM IST