Samsung has introduced that it’ll make investments Rs 1,588 crore in India to arrange a brand new compressor manufacturing plant in Sriperumbudur, close to Chennai. The brand new facility is unfold over 22 acres and is alleged to supply 8 million compressor items a yr. Compressors produced on the plant will likely be utilized in fridges that Samsung manufactures in India and likewise be exported.
The corporate has signed a Memorandum of Understanding (MoU) with the Authorities of Tamil Nadu for the brand new plant, increasing and strengthening the element ecosystem within the state.
Ken Kang, President and CEO, Samsung Southwest Asia, mentioned, “This new funding of INR 1,588 crore is an affidavit to our persevering with dedication to the individuals of Tamil Nadu, who’ve been our longstanding companions since we arrange our manufacturing facility in 2007. Through the years, we now have acquired robust help from the state and native authorities, serving to us drive our imaginative and prescient of ‘Powering Digital India’. This new compressor manufacturing facility will assist us cater to the rising demand for Samsung’s revolutionary digital home equipment throughout the nation and likewise drive exports.”
The brand new Samsung facility is alleged to create 600 new jobs. This new enlargement plan of Samsung will likely be accomplished by the third quarter of 2022. The plant is alleged to supply 80 lakh compressor gadgets by the tip of this yr and its manufacturing is predicted to achieve 144 lakh by the tip of 2024.

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