India, Oct. 26 -- The Yamuna Expressway Industrial Development Authority (Yeida) said on Sunday that it has issued a letter of intent (LoI) to set up an automotive components manufacturing facility on 150 acres in Sectors 6 and 7 of Yeida, near Noida International Airport.

According to Yeida officials, the firm -- Samvardhana Motherson International Limited (SAMIL) -- that was issued the LOI, plans to invest Rs.3,491 crore in the project which is expected to generate around 20,000 jobs over the next five years.

RK Singh, chief executive officer, Yeida, said, "We have issued the LoI to the company for establishing its manufacturing facility in the Yamuna region. The company has planned to invest over Rs.3,400 crore in land, buildings, pl...