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Samsung relocation buzz sends alarm bells ringing
Business Standard
|October 10, 2024
Sri City, a special economic zone in Andhra Pradesh, may be seeing an opportunity next door as a strike at Samsung's Sriperumbudur plant in Tamil Nadu - which is just 75-km away - entered the second month.
Officials from Sri City are said to have approached Samsung executives for an informal round of talks regarding a possible relocation of the plant, a source privy to the development said. "Officials from Sri City have already approached the company," confirmed the source..
However, there was no confirmation or denial on it by Samsung.
Sri City has become a hub of activities since N increased Chandrababu Naidu took over the reins of Andhra Pradesh earlier this year. In August, he inaugurated projects and signed a memorandum of understanding for investments worth 3,700 crore in the industrial city which lies in the state's Tirupati district.
Dit verhaal komt uit de October 10, 2024-editie van Business Standard.
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