PM Modi and S Korean President Moon will inaugurate one of the world’s largest mobile handset factory on Monday. Located in Noida, the factory is owned by South Korean electronics giant Samsung. The mobile factory will have the capacity to make 12 crore units a year.
ALSO READ: South Korean President visits Akshardham Temple
Samsung has invested approximately Rs 5,000 crore in this facility and it will give a major boost to Make In India & Skill India initiatives.
President Moon Jae-in is on a four day visit to India.
Modi and Moon will land together at a quickly prepared helipad adjacent to the new 35-acre Samsung Electronics facility at Sector 81 in Noida, Uttar Pradesh. Samsung set up one of the first electronics manufacturing facilities set up in the country in the early 1990s. The current mobile phone manufacturing unit was added in 2005.
In June last year, the South Korean giant announced a Rs 4,915 crore investment to expand the Noida plant. The company is currently making 6.7 crore smartphones in India. Not just mobiles, the expansion of the current facility will double Samsung’s production capacity of consumer electronics like refrigerators and flat panel televisions.
Click here for Latest News updates and viral videos on our AI-powered smart news genie