Samsung To Set Up Compressor Plant In TN At Outlay Of Rs 1,588 Cr

Samsung will set up a compressor plant at an outlay of Rs 1,588 crore near here, a senior group official said on Tuesday.

Topics

Samsung | Tamil Nadu

IANS  |  Chennai 

Samsung

Samsung India has signed a Memorandum of Understanding with Tamil Nadu government.

South Korean tech giant will set up a compressor plant at an outlay of Rs 1,588 crore near here, a senior group official said on Tuesday.

Spread over 22 acres, the new plant will have a capacity to make eight million units per year.

The compressors produced at the new plant will be used for the refrigerators made by the company and also for exports, said Ken Kang, President and CEO, Southwest Asia said.

India has signed a Memorandum of Understanding with government.

Speaking on the occasion, Chief Minister M.K. Stalin welcoming the fresh investment also requested Samsung to set up a semi-conductor plant in the state.

He said Samsung's total investment in has gone upto about Rs 1,800 crore till date.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, March 15 2022. 13:08 IST

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