Samsung to invest Rs 1,588 cr to set up new compressor plant in Tamil Nadu

Samsung has announced an investment of Rs 1,588 crore in India to set up a new compressor manufacturing plant in Sriperumbudur, Chennai.

The upcoming facility will be spread over 22 acres and have the capacity to produce 8 million compressor units every year, and this number will go up in the future, Samsung said in its announcement.

The compressors produced in the plant will be used for refrigerators that the company manufactures in India, and also for the ones built for exports.

Samsung has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for this new plant and to expand and strengthen the component ecosystem in the state.

“Samsung has been a shining example in Tamil Nadu’s industrial growth story, driving investments and creating jobs. This new investment is yet another step by Samsung towards strengthening the manufacturing ecosystem in the state,” Tamil Nadu CM MK Stalin said at the MoU signing ceremony.

“This new investment of Rs 1,588 crore is a testimony to our continuing commitment to the people of Tamil Nadu, who have been our longstanding partners since we set up our factory in 2007. Over the years, we have received strong support from the state and local authorities, helping us drive our vision of ‘Powering Digital India’. This new compressor manufacturing facility will help us cater to the growing demand for Samsung’s innovative digital appliances across the country and also drive exports,” said Ken Kang, President and CEO, Samsung Southwest Asia, while speaking at the event.

The manufacturing facility in Sriperumbudur is one of Samsung’s two factories in India and it manufactures some of its flagship products like QLED TVs, Frame TVs, Curd Maestro Refrigerators, AI Ecobubble Washing Machines, WindFree ACs, etc.

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