Samsung Electronics, which is one of the biggest participants in Make in India campaign with a couple of massive manufacturing units in India, has announced an investment of Rs 1,588 crore in India to set up a new compressor manufacturing plant in Sriperumbudur, near Chennai.
The new facility, spread over 22 acres, will have a capacity to produce 8 million compressor units a year, which will be expanded in the future, the company said in a statement.
Compressors produced at the plant will be used in refrigerators that Samsung manufactures in India and also be exported.
Samsung manufactures its flagship products in TN
Samsung signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu for the new plant on Tuesday.
Ken Kang, President and CEO, Samsung Southwest Asia, said, "this new investment of Rs 1,588 crore is a testimony to our continuing commitment to the people of Tamil Nadu, who have been our longstanding partners since we set up our factory in 2007."
Set up in 2007, the manufacturing facility in Sriperumbudur is one of two factories that Samsung operates in India. Samsung’s flagship consumer electronics products that include QLED TVs, lifestyle TV The Frame, Curd Maestro Refrigerators, AI Ecobubble Washing Machines with bi-lingual user interface and WindFree ACs are manufactured at this plant. Some of these digital appliances are exported to other countries.
It has consolidated its presence in the country with two factories, in Noida, near New Delhi and in Sriperumbudur, five R&D centers and one design center. These are supported by a network of over 200,000 retail outlets and over 3,000 customer service points.
Meanwhile, the Tamil Nadu government has requested Samsung to consider putting up a semiconductor unit in the State.
Samsung, which is already said to be mulling a plan to make India its primary overseas base for smartphone manufacture. It is set to pump in $90 million more at its existing Indian facility in Noida --- the world's largest --- to ramp up its production numbers substantially.
