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5 Korean firms invest ₹1,154 crore in Greater Noida, says UP govt
Chinese smartphone makers like Vivo has already invested huge amount in Greater Noida, the UP government said. It added that these investments will help the city emerge as a data centre hub.
Uttar Pradesh received an investment of ₹1,154 crore in Greater Noida by five Korean firms who have acquired land to set up their factories in the city, the state government said in a release. The companies will provide employment to 8,706 youths, the release further said.
These Korean firms - Samkwang India Electronics, KH Vatech India, Cenetech India, Dreamtech and Stereon - have bought 3.51 lakh square metres of land in Greater Noida area, the state government said.
While Samkwang India Electronics is setting up its unit at an estimated cost of ₹440 crore, which will employ 4,000 people, KH Vatech India is investing ₹247 crore and Sentech India ₹34 crore to establish their own unit that will provide employment to 786 and 350 people, respectively.
The other two - Dream Tech and Stereon - have acquired land in Sector Ecotech 10 to establish their plants at the cost of ₹433 crore. The two units will employ 3,570 youths, the government release said.
Apart from South Korean firms, Chinese smartphone makers Oppo, Vivo and Forme have also invested heavily in Greater Noida in the last four-and-a-half years, according to UP government. It is the ₹7,429 crore and ₹2,000 crore investments by Vivo and Oppo respectively that piqued the interest of the South Korean firms, the government added.
These investments will help Greater Noida emerge as a data centre hub, the UP government said.
