South Korean semiconductors to electronics company Samsung is planning to invest 2,500 crore rupees ($361.4 million) in expanding its production capacity in India.
With the deal, Samsung will construct two new production plants for the local manufacturing of cell phone displays and batteries in the country.
One of the assembly factories, Samsung Display Co., will be located in Noida and is expected to become operational by April next year. Samsung SDI is also planning to set up an assembling factory for the production of lithium-ion batteries in the country.
Additionally, the products from the two new plants will be provided to both Samsung India as well as other smartphone makers who presently source parts from Samsung.