Vivo gets 169 hactare land in Noida, to deposit Rs 3500 in new unit

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PTI | Nov 24, 2018, 12:14PM IST
The association had practical for land to enhance a bottom with a devise to take a prolongation ability serve up.They have been allotted 169 hactare of land.“The association had practical for land to enhance a bottom with a devise to take a prolongation ability serve up.Th… Smartphone builder Vivo India has been allotted a 169-acre land parcel by a Yamuna Expressway Industrial Authority (YEIDA) to set adult a section in Gautam Buddh Nagar with an estimated investment of Rs 3,500 crore, an central said. Vivo, headquartered in southern China’s Dongguan city, already operates from a 50-acre rented set adult in Greater Noida where it manufactures 24 lakh mobile phones annually, a Chief Executive Officer of YEIDA, Arunvir Singh, said.

“The association had practical for land to enhance a bottom with a devise to take a prolongation ability serve up. They have been allotted 169 hactare of land. It would deposit Rs 3,500 crore in a initial proviso of expansion, formulating 25,000 jobs within one year. 30 per cent of a jobs would be compulsorily given to locals though a learned and competent locals would get opportunities over that also,” Singh told .

He pronounced a association would need another 200 hactare of land during a second proviso of enlargement during that it would again siphon in around Rs 3,500 crore and in a routine emanate about 15,000 jobs.

He pronounced during slightest 12 some-more associated companies including OPPO that make mobile phone accessories and softwares are expected to request for land in one month and preference would be taken after evaluating their minute plan reports (DPRs).

Three other companies, including MTT Ltd and Raj Corporation, both 5 hactare each, and Kesarwani Conduit Private Limited (1.25 acre) were also allotted land parcels.

A handloom cluster of 100 companies that would come adult in 200 hactare land and a trade cluster with 50 companies widespread in 100 hactare were also in a pipeline, he said, adding that both a clusters would be in Sector 29.

“The segment would renovate into a weave heart and electronicS hub,” Singh remarked.

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