?The UP government approved the investment under Super Mega A by the state’s Cabinet Committee in Lucknow Monday. A Memorandum of Understanding was signed between Uttar Pradesh Chief Secretary, Rahul Bhatnagar and Samsung’s Hong.“Today’s MoU is yet another step in converting Noida into the electronics hub of India. I am happy Samsung is pioneering this transformation yet again,” UP chief minister Akhilesh Yadav said.Samsung started its Noida plant in 1996 and has since been making white goods and mobile phones from the 1.3 lakh square metre facility. A large ecosystem of suppliers in the National Capital Region has also come up since the South Korean company began operations in the area.While in India, the company has over 40,000 employees, the Noida plant employs around 4,000 people.Sources said that Samsung will get an additional 1.3 lakh sq m area for expansion which will have to be completed by 2019-end. In India, the company did not begin sales of Note 7 but analysts expect local smartphone revenues to be hit, but the company has vehemently refuted the claims.

Source: Economic Times October 17, 2016 12:11 UTC