Greater Noida: This city gradually turns into a hub for Korean electronics companies.
After LG and Samsung, two other Korean electronics companies – Dreamtech India Pvt Ltd and Starion India Pvt Ltd – have bought 40 hectares of land among them in the Ecotech 10 sector to prepare plants with an investment worth RS 433 Crore which will produce jobs with more than 3,500 young adult.
Previous five Korean companies, most cellphone manufacturers and accessories, have bought around 87 hectares of land in Greater Noida, promised to invest more than Rs 1,150 Crore and create employment opportunities for more than 8,700 youth.
One reason for Korea’s interest in this area is the policy of making Gnida land within 30 days of applications under the ‘ease of business’ policy, officials said.
Apart from LG and Samsung, three other Korean companies that have bought land in the ecotech 1 extension sector, Ecotech 6 and Ecotech 10 are Senatech India Pvt Ltd, KH Vatech India and Samkwag India Electronics Pvt Ltd Deep Chandra, CEO Additional Gnida, said, ” Previous Chinese manufacturers such as Oppo and Haier have established plants in Greater Noida.
The city is now fast as a fortress for Korean electronics companies “According to Chandra, five large Korean companies who have bought land are expected to start their operations” soon “.
“Most of these Korean companies are in the electronics sector.
Together, the five companies are expected to invest around RS 1,154 Crore in this region with employment opportunities for around 8,700 people.” Aceo, who met with representatives from Dreamtech India Pvt Ltd and Starion India Pvt Ltd on Monday, said, “At the meeting, we assured the delegation of all the help needed in establishing their business.” CEO Narendra Bhoohan said that Gnida promoted the industry under the ‘ease of business’ policy.
“There is an emphasis on bringing the industry to the city where we continue to plan to make land available.
This land is given within 30 days of the application based on policies promoted by the state government,” he added.