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Samsung Licence for Smartphone Plant

A subsidiary of South Korea’s Samsung Electronics Co Ltd will be awarded a license to speculate $3 billion (roughly Rs. 18,400 crores) in a cell phone plant in northern Vietnam, the 2d such facility in the use of a, a state-run newspaper stated on Monday.

The ability can be in-built Thai Nguyen province, where Samsung Electronics Vietnam has operated a $2 billion (roughly Rs. 12,300 crores) plant for cell phone manufacturing in view that March 2014, the Planning and funding Ministry-run Daub To newspaper mentioned.

Samsung Nears Licence for $3 Billion Smartphone Plant in Vietnam: Report

A Samsung Electronics Vietnam professional mentioned the company had no immediate touch upon the document.

The ministry oversees overseas funding in Vietnam. Samsung’s latest funding would bring its complete pledges in the Southeast Asian nation to around $11 billion (roughly Rs. 67,600 crores), the Daub Tu newspaper said.