As per TOI’s report, citing officials close to the matter, the total built-up area is 1.6 Lakh sqm
In November 2018, Vivo was allotted 169 acres of land by YEIDA for building its assembly and SMT lines
After both phases are completed, production will increase to 120 Mn smartphones per year, with an additional 16,000 jobs being created
Chinese smartphone maker Vivo has reportedly received a partial occupancy certificate from the Yamuna Expressway Industrial Development Authority (YEIDA) for 62 acres of land in Noida’s Sector 24A to set up its manufacturing unit.
As per TOI’s report, citing officials close to the matter, the total built-up area is 1.6 Lakh sqm.
It is pertinent to note that the company applied for the certificate in April following which the authorities carried out the inspection in June. The certificate was issued by the planning department earlier this week.
In November 2018, Vivo was allotted 169 acres of land by YEIDA for building its assembly and SMT lines of which 156 acres of land have already been received by Vivo so far. Besides, the company was also given a 25% subsidy on land rates and a full waiver on stamp duty at the time of allotment.
The project would be completed in two phases, with the first phase to produce 60 Mn smartphones annually and create 22,000 jobs. The company then stated that it would require another 200 acres of land during the second phase of expansion.
After both phases are completed, production will increase to 120 Mn smartphones per year, with an additional 16,000 jobs being created. The company plans to invest Rs 6,690 Cr in these two phases.
It is pertinent to note that YEIDA aims to establish 200 companies in the township by December this year. According to the authority’s data, layout plans for 91 companies have been approved, with eight of them already starting production.
Companies like Avery Dennison, Surya Global Flexi Films, and Bikanerwala have kicked off manufacturing. Of the 200 companies, 136 will be in Toy Park and 81 in Apparel Park, with construction already underway for some. These industries are expected to generate approximately 200,000 jobs in the city.
Earlier in June, Tata Group was purported to be interested in acquiring a majority stake in Vivo’s Indian unit.
Alongside this, Vivo was also reported to be seeking an Indian joint venture (JV) partner for its manufacturing operations and held talks with Tata Group and the Murugappa Group, but negotiations stalled due to disagreements over valuation.
With Chinese smartphone companies under scrutiny in India, including allegations of customs duty evasion and money laundering, the government is promoting local control in the mobile phone sector through its ‘Make In India’ initiative.
Meanwhile, BBK Group, the Chinese mobile phone maker, has partnered with Indian manufacturers Dixon Technologies and Karbonn Group to produce Oppo, Vivo, and Realme smartphones. Chinese brands like Xiaomi and Realme have also engaged Indian entities for distribution.
