MUMBAI, June 23: Samsung Electronics, the flagship company of the Samsung group of South Korea, will invest $ 630 million in India by the turn of the century, according to its India division Managing Director B M Park.

Speaking to newsmen here today on the occasion of the launch of microwave ovens range and cameras in India, Park who heads the Samsung India Electronics, said this total investment $200 million would be direct investment excluding of equity and loans.

Park said the company has already invested $ 30 million in its Samsung India Electronics Noida unit where presently the production activity was restricted to manufacture of colour television sets.

The company has plans to expand its activity by setting up manufacturing facilities for washing machines and refrigerators in the second phase of investment and in the third phase it will start microwave range, audio and other electronics consumer goods manufacture.

He said the company marketed its imported version of frost free refrigerators and washing machines hopes to increase its market share considerably in India when it commences local production of these at Noida.

The market in these two competitive segments of electronics goods was sizeable and growing very fast.

The three models of high-tech microwave ovens launched by it today in India are 34 litres (Rs 2700), 26 litres (Rs 24,500) and 20 litres capacity (Rs 10,000). While, the six camera range include one fixed focus and five auto focus models, the price being in the range from Rs 1800 to Rs 15,500.

Samsung's product line in India comprises 12 model of colour TVs in the 14 inch to 52 inch range, five CD based audio systems, two video-CD players, two models of 6 Kg washing machines, eight models of over 300 litres frost-free refrigerators, three microwave oven models and 6 camera models being launched.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.