Samsung

Samsung reaffirms its commitment to India with an investment of INR 1,588 crore to set up a new refrigerator compressor factory; Signs MoU with Government of Tamil Nadu

Samsung reaffirms its commitment to India with an investment of INR 1,588 crore to set up a new refrigerator compressor factory;  Signs MoU with Government of Tamil Nadu

Mr. MK Stalin, Chief Minister of Tamil Nadu graced the MoU signing ceremony in Chennai

Compressors produced at the Sriperumbudur plant will be used in Indian-made refrigerators and also for export

(From LR) Thiru S Krishnan, Thiru Thangam Thennarasu, Thiru MK Stalin and Mr. Ken Kang

Samsung, India’s most trusted consumer electronics and smartphone brand, today announced an investment of INR 1,588 crore in India to set up a new compressor manufacturing plant in Sriperumbudur, near Chennai.

The new facility, spread over 22 acres, will have a production capacity of 8 million compressor units per year, which will be expanded in the future. Compressors produced at the plant will be used in refrigerators that Samsung manufactures in India and will also be exported.

On Tuesday, the company signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the new plant, expanding and strengthening the component ecosystem in the state.

The MoU signing ceremony held in Chennai was graced by Mr. MK Stalin, Chief Minister of Tamil Nadu. Other dignitaries present included Mr. Thangam Thennarasu, Minister of Industries, Mr. S Krishnan, Additional Chief Secretary, Industries, Ms. Pooja Kulkarni, Managing Director, Tamil Nadu Industrial Guidance and Export Promotion Bureau, Mr. T Anand, Managing Director , State Industries Promotion Corporation of Tamil Nadu, Mr. Ken Kang, President and CEO, Samsung Southwest Asia and Mr. ByongJin Kong, General Manager, Samsung Chennai Factory.

Mr MK Stalin, Prime Minister of Tamil Nadu noted, “Samsung has been a shining example in Tamil Nadu’s history of industrial growth, driving investment and creating jobs. This new investment is another step by Samsung towards strengthening the manufacturing ecosystem in the State.

Mr. Ken Kang, President and CEO, Samsung Southwest Asianoted, “This new investment of INR 1,588 crore demonstrates our continued commitment to the people of Tamil Nadu, who have been our long-standing partners since the establishment of our factory in 2007. Over the years, we have received strong support from the state and local authorities, helping us achieve our vision of ‘Powering Digital India’. This new compressor manufacturing plant will help us meet the growing demand for Samsung’s innovative digital devices across the country and boost exports. »

(From LR) Ms Pooja Kulkarni, Thiru S Krishnan, Thiru Thangam Thennarasu, Thiru MK Stalin, Mr Ken Kang, Mr Byong Jin Kong, Mr Seong Taek Lim and Mr Peter Rhee

Established in 2007, the Sriperumbudur manufacturing facility is one of two factories Samsung operates in India. Samsung’s flagship consumer electronics including QLED TVs redefining luxury, The Frame lifestyle TV, innovative Curd Maestro refrigerators, AI Ecobubble washing machines with bilingual user interface and WindFree air conditioners are made in this plant. Some of these innovative digital devices are exported to other countries.

Since entering India in 1995, Samsung has set new benchmarks in innovation-driven manufacturing and consumer marketing, and established itself as a national brand. It has consolidated its leadership in the country’s market with two factories, in Noida, near New Delhi and Sriperumbudur, five R&D centers and a design center. These are supported by a strong network of over 200,000 points of sale and over 3,000 customer service points.