Spice investing Rs 500 cr for new manufacturing unit in UP

LUCKNOW, INDIA: With a spurge in investments, now Spice Group has announced  an investment of Rs. 500 crores to set up a manufacturing unit in Uttar Pradesh.

The manufacturing unit will bolster the company's strategy to introduce affordable mobile internet devices in India through domestic manufacturing. Through the facility, the company aims to create a high quality production environment, thereby introducing a wider range of high technology mobile internet devices at affordable costs.

The company also signed a Memorandum of Understanding with the Government of Uttar Pradesh.

The Government of UP will support Spice Group in establishing the facility in the State of Uttar Pradesh in a time bound manner and facilitate the necessary infrastructure, ecosystem and incentives under various schemes announced by the State and Central Government.

Dilip Modi, chairman, Spice Group, said, "With a local manufacturing plant, Spice Group can achieve its vision to create affordable and high technology mobile products for a larger audience. Uttar Pradesh has had a strong connection with our group, ever since we set up the country's first photocopier manufacturing plant in the state."