Intex, a mobile handset company has planned to invest INR 1,500-crore to develop a manufacturing unit in Uttar Pradesh.
It happened on the very next day, when Samsung signed an agreement with UP government to expand its existing facility.
It is said that the operations are going to begin from early 2017. Recently the company has allocated about INR 650-crore for the first phase of construction at the Greater Noida site.
A company representative is heard to have said that the company is aiming to make the annual capacity to be around 35 million handsets by the end of next year.
Intex is known as one of the leading electronic device producers of the country. It produces electronic devices such as washing machines, mobile phones, LED TVs and mobile accessories. Thus it aims to produce all these items in the next venture.
Amitabh Khurana, head of manufacturing said that Intex has been associated with manufacturing since 2001 and the company manufactures around 2 million phones per month.
He also added that by mid of 2017, India will produce mobile phones up to 30-40 percent via technical joint ventures and it aims to manufacture the complete unit of a mobile phone, including components by the same time within a year's time.
Three of its five current manufacturing facilities are located in Noida, while the other two are at Baddi in Himachal Pradesh, and Jammu.