YEIDA allots land to Vivo for Rs 3,500 crore facility

Yamuna Expressway Industrial Authority (YEIDA) has alloted a 169-acre land parcel to smartphone maker Vivo India to establish a unit in Gautam Buddh Nagar with an estimated investment of Rs 3,500 crore.

According to Chief Executive Officer of YEIDA, Arunvir Singh, “Vivo already operates from a 50-acre rented set up in Greater Noida where it manufactures 24 lakh mobile phones annually.”

He was quoted as saying by PTI that the Chinese company had applied for land to expand its base with a plan to take its production capacity further up.

“They have been allotted 169 acre of land. It would invest Rs 3,500 crore in the first phase of expansion, creating 25,000 jobs within one year. 30 per cent of the jobs would be compulsorily given to locals but the skilled and qualified locals would get opportunities beyond that also,” he added.

Image Credit : smartcity.eletsonline.com

Download Now – Special Research Report

A 110 page special research report that highlights around 580 key investments happened in the year 2018-19.

Daily Newsletter

Enter your email address:

Delivered by FeedBurner

Archives