October 15, 2021 12:16:19 pm
Chinese company Chenfeng will invest Rs 600 crore in Greater Noida Authority’s township project. An inauguration ceremony was held by Chenfeng employees and officials from the Greater Noida Industrial Development Authority (GNIDA) marking the beginning of the manufacturing plant. The company will be making components of street LED lights. The plant is likely to be functional in the next one and a half years.
A 750-acre township area is being developed by GNIDA, in which companies will be setting up base for manufacturing and other business activities. So far, five companies — Haer Electronics, Formi Mobile, Satkriti Infotainment, Chenfeng and J World — have already been allotted land. Four of the companies have begun construction of their manufacturing plant, said officials.
The Chinese company is set to provide employment to more than 5,000 persons, officials said.
Chenfeng company officials stated that the area was chosen after surveying several places across the country. The plant will be built in an area of 64,000 sq metres, and will export all products related to LEDs.
The township project aims to improve ease of doing business in the region.
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