Samsung TVs to be made in Chennai
10 November 2006
Indian subsidiary of $56.7-billion Korean consumer electronics major, Samsung India Electronics has signed a MoU with the Tamil Nadu government for setting up two new investments in the state at combined investment of Rs450 crore. The projects include a SEZ unit and a domestic tariff area (DTA) unit.
Samsung already has a consumer electronics manufacturing facility in Chennai. The second electronics manufacturing unit is expected to come up next year, and would double the company''s overall manufacturing capacity to about 10 million units per annum.
Samsung says the company would invest around Rs284 crore in the DTA project to manufacture CTVs, refrigerators, air conditioners and washing machines. the DTA project will be set up on 50-acre land in the SIPCOT Sriperumbudur Industrial Park, near Chennai
Iits proposed Rs165-crore SEZ, SEZ will come up on a 30-acre land in the Sriperumbudur Hi-Tech SEZ located with the industrial complex. Here Samsung will manufacture computer monitors (including LCD monitors), computer printers and other IT products.
The MoU was signed by Shakti Kanta Das, state industries secretary and S H Oh, president and CEO of Samsung''s South West Asia regional headquarters at a signing ceremony attended by chief minister M Karunanidhi and union communications minister Dayanidhi Maran.