Chinese smartphone maker Vivo is set to open one of India’s largest mobile phone manufacturing plants in Greater Noida next month.

This facility will boast an annual production capacity of 120 million devices, set up with an investment exceeding Rs 3,000 crore, according to The Economic Times.

Earlier Vivo had discussions with the Tata Group, the Murugappa Group, and Indian contract manufacturer Dixon Technologies regarding a potential joint venture.

However, negotiations have stalled due to disagreements over valuation. Consequently, the company is now actively seeking a local joint venture partner in India to manage its manufacturing operations, the report cited sources as saying.

Recently, the company moved out of its leased manufacturing facility that had an annual capacity of 40 million devices. This plant has now been acquired by Bhagwati Enterprises, the manufacturing unit of Micromax Informatics.