: CM Stalin invites Samsung to manufacture semiconductor in Tamil Nadu #FinanceIndia #StockMarketNEWS CM Stalin invites Samsung to manufacture semiconductor in Tamil Nadu Chennai, Mar 16 (KNN) Tamil

@StockMarketNEWS Mon 21 Mar, 2022

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CM Stalin invites Samsung to manufacture semiconductor in Tamil Nadu #FinanceIndia #StockMarketNEWS
CM Stalin invites Samsung to manufacture semiconductor in Tamil Nadu Chennai, Mar 16 (KNN) Tamil Nadu Chief Minister M.K. Stalin has invited Samsung Electronics Co. Ltd to establish a semiconductor manufacturing plant and has guaranteed full support.

He also encouraged the Korean electronics giant to bring other such manufacturers and set up their units in Tamil Nadu.

CM Stalin was speaking at the MoU signing between the government and Samsung to set up a new compressor manufacturing facility at Sriperumbudur in Tamil Nadu.

Samsung is expected to invest Rs 1,588 crore on the new plant as a part of the agreement.

“I am happy to learn that the company had now increased its investment to Rs 1, 800 crore this year,” he added.

He said that the increase in investment will generate job opportunities and help boost the state’s economy and manufacturing potential.

CM Stalin pressed on the goal of making Tamil Nadu a USD 1 trillion economy by 2030 and called upon Samsung to strengthen their manufacturing capacity in the State.

Speaking about the partnership with the government, Ken Kang, president and CEP, Samsung Southwest Asia said, “The increase in investment shows our commitment towards the people of Tamil Nadu who are our long standing partners since 2007.”

With this new compressor manufacturing facility, we will cater to the growing demand for Samsung’s innovative digital appliances across the country and also enhance exports, he said. (KNN Bureau)