Samsung has announced a Rs 1,588 crore investment in Sriperumbudur, near Chennai, to build a new compressor manufacturing factory for refrigerators.
The new factory, which spans 22 acres, will be able to produce 8 million compressor units each year, with the ability to grow in the future. Compressors made at the factory will be utilised in Samsung refrigerators made in India as well as for export.
In the presence of Chief Minister MK Stalin, the business signed a memorandum of understanding (MoU) with the Tamil Nadu government for the new factory.
Stalin said, “Samsung has been a shining example in Tamil Nadu’s industrial growth story, driving investments and creating jobs. This new investment is yet another step by Samsung towards strengthening the manufacturing ecosystem in the state.”
