Symplast Group to invest ₹70 crore on global manufacturing unit to be set up in Yamuna Region

Symplast Group, an Italy-based global company, has announced plans to establish a new manufacturing unit for advanced plastics and rotational molding products for the automobile industry in the YEIDA region of Uttar Pradesh with a total investment of ₹70 crore, including 50 percent foreign direct investment (FDI).

On Thursday, YEIDA CEO Rakesh Kumar Singh handed over the LoI letter to the company for the allocation of three acres of land.

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This project will strengthen India-Italy industrial cooperation and prove to be a significant step towards developing the Yamuna region as a global manufacturing hub.

The total investment of ₹70 crore will increase foreign capital inflows into the state and create direct employment opportunities for skilled, semi-skilled, and unskilled workers. It will also generate significant indirect employment through suppliers, logistics, transportation, and local businesses.

The project will provide transfer of advanced European technology, modern production systems, compliance with international quality control standards, and training of the local workforce to global standards, thereby strengthening the regional industrial ecosystem and boosting ancillary industries, MSME units, and supply chain networks.

This initiative is in line with Make in India and will empower Uttar Pradesh to grow exports, generate foreign exchange, and increase global competitiveness by producing for domestic as well as international markets.