Samsung TVs to be made in Chennai

Samsung India Electronics today signed a memorandum of understanding (MoU) with the Tamil Nadu government for setting up two projects - an SEZ unit and a domestic tariff area (DTA) unit - with a total investment of Rs 450 crore.

According to a release issued by Samsung, the company will invest about Rs 284 crore in the DTA project to manufacture CTVs, refrigerators, air conditioners and washing machines.

Samsung will the set up an SEZ for the manufacture of computer monitors (including LCD Monitors), computer printers and other technology products with an investment of Rs 166 crore, the release added.

While the DTA project will be set up on 50-acre land in the SIPCOT Sriperumbudur Industrial Park, near here, the SEZ will come up on a 30-acre land in the Sriperumbudur Hi-Tech SEZ located with the industrial complex.

"The MoU was signed by state industries secretary Shakti Kanta Das and S H Oh, president and CEO of Samsung's South West Asia regional headquarters, in the presence of Chief Minister M Karunanidhi and Communications Minister Dayanidhi Maran," the release added.

Click here to read earlier report: Samsung plans 2nd facility in Chennai