Chenfeng Tech to invest Rs 600 cr in IITGNL for LED manufacturing

Chenfeng Tech Private Limited plans to invest Rs 600 crore at the Integrated Industrial Township Greater Noida Limited (IITGNL) for setting up a manufacturing plant for LED street light components. According to an official, a ceremony was conducted, and the project will become operational within 1.5 years. After the investment, it will be the fifth foreign company to invest in IITGNL. The Chairman of Chenfeng, He Wenjian, said that the company selected IITGNL after visiting and gathering various places. The Indian market is huge, and most of the LED components are imported here. The components will be manufactured in the plant spreading across 64,000 sq metres. General Manager of Greater Noida Industrial Development Authority (GNIDA), A K Arora, Secretary, Patanjali Dixit, IITGNL and other officials from Chenfeng Tech Pvt Limited attended the ceremony. CEO of GNIDA and Managing Director of IITGNL, Narendra Bhooshan, said that the company would invest Rs 600 crore in the manufacturing plant, and it will provide employment opportunities to over 5,000 people. One plant is operating in Sector Ecotech 1, Extension 1. He said that the Multimodal Transport and Logistics Hub (MMTLH), the Noida International Airport, the Dedicated Freight Corridor Corporation’s (DFCCs), and the east and west railway corridors would enhance road connectivity. Bhooshan also called upon other companies to invest in the township. He added that the industrial plots could be allocated within a month. Image Source