Lucknow: Greater Noida has emerged as a hub for Chinese and Korean electronics companies in the past four years, said a government spokesman.
The spokesman said that five Korean electronics companies had acquired land in Greater Noida recently to set a factory at a cost of Rs 1,154 Crore.
The company will provide work to 8,706 people.
“We already have a Chinese department such as Oppo, Vivo and Formi preparing their units at Greater Noida.
Now, five have bought land of 3.51 lakh square meters in Greater Noida.
This includes Samkwang India Electronics, KH Vatech India, Sentech India, Dreamtech and Stereon.
These companies are involved in making cellphone parts, “he said.
Officials of the Industrial Development Authority Noida Greater said that Samkwang India Electronics prepared its unit with an estimated cost of Rs 440 Crore and would employ 4,000 people.
KH Vatech India invests RS 247 Crore and Sentech India Rs 34 Crore to establish their units that will provide each job to 786 and 350 people.
Dreamtech and Stereon have obtained land in the ecotech 10 sector to assign their plants at a cost of Rs 433 Crore.
Two units will employ 3,570 people.
“The main reason for the Korean company to come here is an investment recently Rs 7,429 Crore and Rs 2,000 Crore by the majors China Vivo and Oppo in Greater Noida.
The entry of Chinese electronics companies becomes a larger noida to produce laptops, cellphones, and other gadgets Has paved the way for Korean companies to build their own factory to compete with their Chinese rivals, “officials said.