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Samsung to invest Rs 350 cr to expand Chennai
facility
CHENNAI: Consumer durables
major Samsung Electronics will invest Rs 350
crore for expanding its manufacturing facility
at Sriperumbudur near here. The company today
signed a memorandum of understanding to this
effect with the Tamil Nadu Government in the
presence of Deputy Chief Minister M K Stalin ,
an official release said. With the additional
investment, Samsung would also manufacture
consumer durables, electronic equipment,
including mobile phone components. Samsung had
expressed willingness to make additional
investment in the state when Stalin recently
visited Korea and China.
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In November 2006, it invested
about Rs 450 crore in the Sriperumbudur facility
to manufacture TVs, refrigerators, computer
parts and accessories. It employs around 1,500
people at the facility. "They already made
investments of Rs 450 crore.. Now they will make
additional investments of Rs 350 crore.. Through
this there will be a direct employment of 1,000
people and indirect employment of 2,000
people...", Industries department Principal
Secretary Rajeev Ranjan told reporters after the
MoU was signed.
