Vivo Plans to Set up A Manufacturing Facility of Rs 4000 Crores in India

Vivo Plans to Set up A Manufacturing Facility of Rs 4000 Crores in India

Vivo India plans to invest over Rs 4,000 crore to expand its operation in the country. According to sources, large part of the capital infusion will be used to set up a new plant in India. This investment will make Vivo’s manufacturing base in the country equal to that of its two plants in China. The new plant will improve the supply since the existing plant in Noida has already reached its full capacity. For the new plant, Vivo has received 169 acres of land from the state government. The brand will initially invest Rs 800 crore in the facility, excluding the cost of the land.

Vivo Plans to Set up A Manufacturing Facility of Rs 4000 Crores in India
Vivo Plans to Set up A Manufacturing Facility of Rs 4000 Crores in India

The new plant is expected to start operations in the next 12-18 months and create around 5,000 job opportunities in the first phase. Present in 16 countries globally the first phase will double its current production capacity of 25 mn units per annum. Chinese smartphone maker Vivo Mobile India’s new plant in Greater Noida will provide jobs to over 5,000 people in India, the company has claimed. In its second phase of investment under Prime Minister Narendra Modi’s Make in India initiative, Vivo will pump in Rs 4,000 crore into this new facility. This will make its new manufacturing base in Noida as big as its other two bases in China. As part of the plan, the company will initially invest Rs 800 crore in the facility, excluding the land cost. The plant is expected to be functional by December 2019.

 

For more updates on news, articles, features on architecture, interiors visit: www.fortunestreets.com

 

 

Get an awesome sticky message bar!Download