Samsung to invest Rs350 cr to expand Chennai facility
Posted on: 03/Nov/2010 9:56:40 AM
Consumer durables major Samsung Electronics will invest Rs350 crore for expanding its manufacturing facility at Sriperumbudur near Chennai.
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.
“They already made investments of Rs450 crore.. Now they will make additional investments of Rs350 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.
