Tag Archives: inauguration

Where’s world’s largest mobile manufacturing unit? It’s here in NOIDA, India

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Samsung Galaxy Note 7 for re-sale in refurbished shape and price

Samsung India will open its new manufacturing in India that would be the largest mobile manufacturing unit in the world, beginning Monday, July 9, 2018. With this, China’s lead in making mobile phones will come down.

Built in a 35-acre complex at Sector 81 in Noida, Uttar Pradesh but almost in Delhi, the new factory will be inaugurated by the visiting South Korean President Moon Jae-in on Monday.

The first Samsung’s manufacturing facility was set up way back in 1997 and upgraded in 2005 with mobiles, which will emerge the largest in the world with the addition of new complex in Noida.

In June 2017, South Korean company Samsung said it would invest Rs.4,915 crore investment to expand the Noida plant to double its production, which is likely by 2019. From the current production of 67 million smartphone units being manufactured in India, the company is expecting to produce 120 million mobile phones by the end of next year.

Samsung is already a house name in India with many home appliances like refrigerators and flat-panel televisions being made here. The NOIDA unit will be nearer to the capital and the entire northern market, giving the company lee way in terms of distribution.

In the south, Samsung has its facility in Sriperumbudur, Tamil Nadu, where some key R&D centre is currently in existence. Samsung India employs over 70,000 people. Once the new unit in NOIDA comes up, the company will be manufacturing its 50% of world production in India alone.

With over Rs 50,000 crore sales annually, Samsung India is likely to triple its sales figures in India by the end of 2020.

India’ Ambitious Maritime Project Sagarmala Development Company Inaugurated

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Minister of Shipping and Road Transport & Highways Nitin Gadkari has inaugurated Sagarmala coastal and maritime development projects worth Rs. 1 Lakh Crore under Sagarmala programme.

At a ceremony to inaugurate the Sagarmala Development Company in New Delhi on Monday, he said the Sagarmala Development Company (SDC) will achieve India’s maritime ploans. It has been incorporated under the Companies Act, 2013 with an initial Authorized Share Capital of Rs. 1,000 Crore and a subscribed share capital of Rs. 90 Crore.

The main objective of the company is to identify port-led development projects under the Sagarmala Programme and provide equity support for the project Special Purpose Vehicles (SPVs) set up by the Ports / State / Central Ministries and funding window and /or implement only those residual projects which cannot be funded by any other means / mode.

The Cabinet had approved the formation of the SDC under the administrative control of the Ministry of Shipping in July 2016. The company would help in structuring activities, bidding out projects for private sector participation, identifying suitable risk management measures for strategic projects across multiple States / Regions and obtaining requisite approvals and clearances.

The implementation of the identified projects would be taken up by the relevant Ports, State Governments/Maritime Boards, Central Ministries, through private or PPP mode. The Company would act as the nodal agency for coordination and monitoring of all the currently identified projects under Sagarmala as well as other projects emerging from the master plans or other sources.

It would also undertake the preparation of the detailed master plans for the Coastal Economic Zones (CEZs) identified as part of the National Perspective Plan (NPP) SDC would be raising funds as debt/equity (as long term capital), as per the project requirements, by leveraging resources provided by the Government of India and from multi-lateral and bilateral funding agencies. It would also aim to increase the scope of private sector participation in project development.

The incorporation of SDC is part of the ambitious Sagarmala Programme to harness India’s 7,500 km long coastline, 14,500 km of potentially navigable waterways and strategic location on key international maritime trade routes. The concept of the Sagarmala Programme was approved by the Cabinet in March 2015.