The Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday issued an allotment letter to the smartphone vendor, LAVA International Limited, to set up an electronics manufacturing cluster (EMC) on 100 acres of land along the expressway,according to a report published in the media.
LAVA has a wide product portfolio that includes tablets, feature phones and smartphones under the LAVA and Xolo brands. The company already has a research & development centre in India and an in-house product testing set-up in China. It is expected to make an investment of about Rs 2,000 crore.
The formalities will be completed by next month and the land will be handed over to Uttar Pradesh Development Systems Corporation Ltd (UPDESCO), which will develop it and transfer it to the company within six months, said an official.
The total land cost for the project is estimated to be about Rs 160 crore and 5 per cent of this cost, including the booking amount of Rs 11.42 crore, has already been collected by YEIDA.
“The EMC will be set up on land measuring about 100 acres. This is located along the Yamuna expressway in Sector 24,” said Santosh Yadav, CEO of the YEIDA.