Samsung to commission Chennai plant soon
The $1.05 billion consumer electronics major Samsung India Electronics Private Limited is all set to commission its Sriperumbudur plant near Chennai.
The company is awaiting a suitable date from the Tamil Nadu government to inaugurate the plant built on a 50-acre plot in the SIPCOT Sriperumbudur Industrial Park.
The plant will initially manufacture colour televisions and monitors. It has a capacity to make 1.5 million TV sets and 1 million thin film transistor (TFT) monitors, Ravinder Zutshi, deputy managing director of the firm, told the media here Monday.
Samsung has invested around $24 million till date out of the total outlay of $100 million for this plant and the balance will be invested by 2010, Zutshi added.
The company will export colour TVs and monitors produced at the plant. Currently, it exports colour TVs, washing machines, refrigerators and monitors out of its Noida plant near Delhi.
Last year Samsung earned Rs 1 billion from exports and the target for the current year is Rs.2 billion, said Zutshi.
Meanwhile, the company's proposed unit to be located in the Sriperumbudur Hi-Tech special economic zone (SEZ) will take some more time to come up as it is yet to decide on the products for the unit.
It had earlier announced that the SEZ unit to be built on a 30-acre plot would make computer monitors, printers and other IT products.