Chenfeng Tech Private Limited, a Chinese company, proposes to invest Rs 600 crore in the Integrated Industrial Township Greater Noida Limited (IITGNL), where it plans to build a plant to produce LED street light components.
A groundbreaking ceremony was held, and the unit is expected to be operating in around a year and a half. It is the township's fifth international enterprise to invest.
Chenfeng's group chairman, He Wenjian, who was present at the ceremony on Thursday, said they chose IITGNL after visiting numerous locations across the country and gathering information on those sites. "India is a significant market, and the majority of LED items are imported here." This plant, which would cover 64,000 square metres, will manufacture LED light components, according to the official.
AK Arora, general manager, Greater Noida Industrial Development Authority (GNIDA), Patanjali Dixit, secretary, IITGNL, and several officials from Chenfeng attended the event. “This company will invest about Rs 600 crore here and the plant is expected to generate employment opportunities for about 5,000 people. One of its plants is already operating in Sector Ecotech 1, Extension 1,” said Narendra Bhooshan, the chief executive officer (CEO), GNIDA, who is also the managing director of IITGNL. Bhooshan said the Multimodal Transport and Logistics Hub (MMTLH) at Bodaki, the Noida International Airport at Jewar, the Dedicated Freight Corridor Corporation’s (DFCC) and the eastern and western railway corridors will improve connectivity in the region.
He also urged businesses to invest in the township, claiming that industrial plots may be allocated in as little as a month.