South Korea's Samsung Electronics Co Ltd said on Friday it would invest $100 million to build a television and monitor plant in India to meet fast-growing demand for consumer electronics products there.
Samsung signed a memorandum of understanding with the government of Tamil Nadu to set up its second Indian manufacturing complex in Sriperumbudur, Chennai, South Eastern India, the firm said in a filing with the Korea Exchange.
Samsung plans to commence construction in January 2007 and start commercial operation in August the same year, with the investment to be made over the next five years starting 2007. The plant will first produce colour televisions, monitors, refrigerators, air conditioners, washing machines, and later also make liquid crystal display (LCD) televisions and LCD monitors.