Dreamtech builds electronics, medical device factory in India

South Korean electronics components maker Dreamtech said on Monday that it built a new factory in India's Greater Noida.

The company invested 85.1 billion won ($61.5 million) to set up the factory on an 80,942-square-metre site, it said in a statement.

Production of DRAM modules and solid-state drives (SSDs) is expected to start in the fourth quarter, with annual sales of 100 billion won targeted from next year.

The factory, located 52 km from New Delhi and 27 km from Samsung Electronics Co's Indian subsidiary, will also produce biosensors to tap into India's growing medical device market.

"The Indian medical market is expected to reach $50 billion by 2030," a Dreamtech source said. "We aim to provide a stable supply chain based on local infrastructure and policy support."

Write to Mi-Kyung Lee at capital@hankyung.com