Chennai, Sep 17 (UNI) Moser Baer will invest Rs 2,000 crore to set up the country's first of its kind solar photovoltaic fab facility at Oragadam on the outskirts of the city.
Speaking at 'Connect 2007', India's premier ICT event, here today, Moser Baer India Managing Director Deepak Puri said ''the company will be coming to Tamil Nadu in a big way and initially we will be investing about Rs 2,000 crore. This manufacturing facility will have all hi-tech and cutting edge lines. The investment, expected to generate employment to 4,000 people, will go up certainly.'' The facility, to come up at a Special Economic Zone, would produce photovoltaic films, one of the sources of solar power generation.
Tamil Nadu Industries Secretary Shakthikanta Das later told newspersons that the State Government would sign a MoU with Moser Baer soon in this regard. Tamil Nadu won the investment amidst tough competition from other States, he added.
Mr Puri met Tamil Nadu Chief Minister M Karunanidhi on the sidelines of the inauguration of 'Connect 2007' and briefed him about the project. Mr Karunanidhi thanked Mr Puri and Moser Baer for announcing the investment.
Mr Puri told reporters that ''the construction work will begin within four weeks of getting the land. We have sought 125 aces of land. The first phase of the project will be ready in 15 to 18 months.'' The proposed plant, with a capacity of 80 MW of power, would cater to exports and also the domestic market. The company expected a revenue of one billion Dollars from this facility within three and a half years.