Chennai, Mar 15 (IANS): South Korean tech giant Samsung will set up a compressor plant at an outlay of Rs 1,588 crore near here, a senior group official said on Tuesday.
Spread over 22 acres, the new plant will have a capacity to make eight million units per year.
The compressors produced at the new plant will be used for the refrigerators made by the company and also for exports, said Ken Kang, President and CEO, Samsung Southwest Asia said.
Samsung India has signed a Memorandum of Understanding with Tamil Nadu government.
Speaking on the occasion, Tamil Nadu Chief Minister M.K. Stalin welcoming the fresh investment also requested Samsung to set up a semi-conductor plant in the state.
He said Samsung's total investment in Tamil Nadu has gone upto about Rs 1,800 crore till date.