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Vivo secures partial occupancy certificate from YEIDA for new manufacturing hub
Industry News- Aug 19,24
This milestone marks a key development in one of YEIDA’s initial large-scale projects, with the total built-up area reaching 160,000 square meters.
Vivo Mobile India has received a partial occupancy certificate from the Yamuna Expressway Industrial Development Authority (YEIDA) for 62 acres of land in Sector 24A. This milestone marks a key development in one of YEIDA’s initial large-scale projects, with the total built-up area reaching 160,000 square meters.
The smartphone manufacturer was allocated 169 acres in November 2018 to establish assembly and Surface-Mount Technology (SMT) lines for mobile phone production. To date, Vivo has been handed over 156 acres, with the remaining land yet to be transferred.
At the time of the allotment, Vivo benefited from a 25% subsidy on land rates and a full waiver on stamp duty.
The project will be executed in two phases. In the first phase, Vivo plans to produce 60 million mobile phones annually, creating over 22,000 jobs. Upon completion of the second phase, production is expected to rise to 120 million smartphones per year, with an additional 16,000 jobs generated. The total investment in the project will amount to Rs 69.9 billion.
The company applied for the occupancy certificate in April 2024, and following a site inspection by YEIDA officials in June, the certificate was issued by the planning department.
In addition to Vivo’s development, YEIDA aims to launch over 200 companies within the township by December. To date, 91 industrial layout plans have been approved, with eight companies, including Avery Dennison, Surya Global Flexi Films, and Bikanerwala, already in production.
Of the 200 planned companies, 136 will be established in the Toy Park and 81 in the Apparel Park. Construction is progressing rapidly, and these new units are expected to create over 200,000 job opportunities, contributing to the city’s growth and development. YEIDA officials anticipate that increased employment will further boost local settlement and population growth.
(TOI)
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