Samsung Electronics will make investments 250 billion Received to construct its first fridge compressor plant in India.
In line with the Indian subsidiary of Samsung Electronics, the corporate and the Tamil Nadu authorities in India signed a Memorandum of Understanding on the matter in Chennai on March 15 (native time).
The plant can be constructed at Samsung Electronics’ plant in Sriperumbudur, a metropolis close to Chennai, India. The compressors made right here will go to fridges that Samsung will make for export to India.
The plant website covers 22 acres (89,000 m). The development of the plant will price 15.88 billion rupees (about 259 billion gained). Samsung Electronics plans to extend its annual manufacturing from an preliminary eight million models to 14.4 million models by the top of 2024.
Samsung Electronics first entered the Indian market in 1995. The Korean tech big is at present operating its manufacturing crops in Noida and Sriperumbudur. As well as, it runs 5 R&D facilities and one design heart in India.