LUCKNOW: Greater Noida has emerged as a hub for Chinese and Korean electronics companies in the past four years, said a government spokesperson.
The spokesperson said that five Korean electronics companies have acquired land in Greater Noida recently to establish factories at a cost of Rs 1,154 crore. The companies will provide employment to 8,706 people.
“We already have Chinese majors like Oppo, Vivo and Formi setting up their units in Greater Noida. Now, five have bought 3.51 lakh square metre land in Greater Noida. These include Samkwang India Electronics, KH Vatech India, Sentech India, Dreamtech and Stereon. These companies are involved in mobile phone parts manufacturing,” he said.
An official of Greater Noida Industrial Development Authority said that Samkwang India Electronics is setting up its unit at an estimated cost of Rs 440 crore and will employ 4,000 people.
KH Vatech India is investing Rs 247 crore and Sentech India Rs 34 crore to establish their units which will provide employment to 786 and 350 people respectively.
Dreamtech and Stereon have acquired land in sector Ecotech 10 to establish their plants at a cost of Rs 433 crore. The two units will employ 3,570 people.
“A major reason for Korean companies to come here is the recent investment of Rs 7,429 crore and Rs 2,000 crore respectively by Chinese majors Vivo and Oppo in Greater Noida. The entry of Chinese electronics companies into Greater Noida to manufacture laptops, mobile phones and other gadgets has paved the way for Korean companies to establish their own plants in order to compete with their Chinese rivals,” the official said.
