CHENNAI, 3rd June 2011
Float glass manufacturer, Saint Gobain Glass India, today said it would invest Rs 1,000 crore in various projects over the next two years.
The company’s Managing Director, Mr B Santhanam said while Rs 800 crore would be invested in their new facility coming up in Bhiwadi in Rajasthan, Rs 100 crore each would be pumped into the company’s existing facility in Chennai and the newly acquired Sezal Glass’ float glass plant in Gujarat.
The Bhiwadi plant, coming up at a total investment of Rs 1,000 crore, is expected to be commissioned in the first quarter of 2012.
Announcing acquisition of Sezal’s Float Glass plant for Rs 686 crore, Mr Santhanam said, “The acquisition will be done through FDI (Foreign Direct Investments) route around $140 million will be required as equity.”
The plant in Gujarat would have two assembly lines with a capacity of 550 tons per day and an additional investment of Rs 100 crore would be made in it, he added.
On the world glass complex being constructed at Bhiwadi, he said, “It will be commissioned in first quarter of 2012.
This plant once operational would have a capacity of three lakh tonnes per year, making it one of the largest float glass plants in the world“.
He stated that the Indian glass industry is showing a 10 per cent year—on—year growth and Saint Gobain grew by 23 per cent last year.
Saint—Gobain is also scouting for land in Tamil Nadu and Andhra Pradesh for setting up of its first Solar Gas Complex at an investment of Rs 500 crore.
“We are currently talking with the two governments (Tamil Nadu and Andhra Pradesh) for alloting us a site that will help us to manufacture crystalline silica, thin—film photovoltaic and solar mirrors at one complex itself,” he said.
“Basically, for solar projects, Rajasthan, Gujarat and Tamil Nadu are preferred destinations. We are focused on setting up the facility in South,” he said.
On the size of the land required he said it should be a 60—acre land that would help to manufacture all the three (crystalline silica, thin—film photovoltaic and solar mirrors) based products.
“We are looking at the facility to become 50 per cent export oriented,” he said.
On Saint Gobain Sekurit business division, he said they would make an investment of Rs 50 crore for setting up furnaces at the facility in Chakan, Maharashtra.
“This business is doing pretty well... We are looking at investments of Rs 50 crore for setting up furnaces,” he said.