Vivo to invest Rs 40 billion in new smartphone plant in Greater Noida

Company to acquire 170 acres of land, which has already been identified

Chinese smartphone maker Vivo will invest more than Rs 40 billion in a new smartphone unit spanning almost 170 acres in Greater Noida.

The company has already identified land and the process for acquisition and other formalities were underway, Vivo director (brand strategy) Nipun Marya told Business Standard here adding the proposed investment does not include land cost.

In phase I of the mega project, Vivo plans to invest nearly Rs 8 billion, which would ramp up its current smartphone production capacity in India from 25 million units to 50 million per annum. The company already operates a captive plant