Vivo India, a smartphone manufacturing company, has been allocated a 169-acre land parcel by the Yamuna Expressway Industrial Authority to establish a facility in Gautam Buddh Nagar with an estimated investment of 3,500 crore rupees ($495.2 million).
Vivo India had applied for land to extend its base with an intent to take its production capacity further up.
The company intends to inject $495.2 million in the initial phase of expansion, creating 25,000 jobs within one year.
Vivo will purchase another 200 acres of land during the second phase of extension in which it would again inject approximately $495.2 million and in the process create about 15,000 jobs.