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Samsung will invest Rs 4,825 crore to relocate its mobile and IT display production unit

Yesterday, the Uttar Pradesh government stated that it has determined to give special considerations to ‘Samsung Display Noida Private Limited’ which is investing Rs 4,825, for fixing up a manufacturing unit of mobile and IT display products in the state.

In a release, the government said, “The unit intends to invest Rs 4,825 crore. It could be made possible by the sustained efforts of the UP government to create an eco-system in NCR in sync with the intent of the Centre to make an export hub given because of the ever-increasing demand of mobile and other gadgets in the country and abroad.”

The project will provide Uttar Pradesh with a global identity as an export hub and will help the state receiving more foreign direct investment. The company will also get a financial incentive to the tune of Rs 460 crore under the Centre’s Scheme for Promotion of Manufacturing Electronic Components and Semiconductors.

 

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