Samsung, the South Korean consumer electronics giant, is all set to invest Rs.5,000 crore in its smartphone display manufacturing facility in Noida. Expected to be ready by January-February 2021, the export-oriented unit (EOU) will 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 would become only the third country in the world having Samsung’s smartphone display manufacturing facility,” said UP Industrial Development Minister Satish Mahana. According to Satish, the plant was among the big projects, which has shifted to India post COVID-19 outbreak in China, and will create nearly 1,500 jobs here.

Samsung Display Noida was formed to manufacture, assemble, process and sale of displays (including parts, components and accessories) for all types and sizes of electronic devices. According to the company’s regulatory filings before the Registrar of Companies, the Indian Unit of the electronics major, Samsung India Electronics has earlier transferred a land parcel of 65,000 square meters apart from granting a loan of Rs.3,500 crore to Samsung Display. Satish said to Business Standard, “We are following up with all the other companies and investors, who have proposed to invest in UP in different sectors”.