Chennai, Apr 18 (UNI) Venture Lighting, a leading manufacturer of advanced metal halide lighting products, today announced that it would set up a new facility in south India with an investment of Rs 300 crore.
Talking to newspersons here, Company CEO A J Joseph Enok said with the help of research and development team, the facility would produce one new product every month.
The Company was likely to manufacture metal halide lamp for rail engine, he added.
''Our research team is in the process of manufacturing high-tech metal halide lamp for rail engines,'' he said.
He said during the next two years there would be 50 per cent increase in Company's headcount from the current 1,800 employees.
Mr Enok claimed that wide usage of advanced metal halide lighting products would reduce the world's energy usage by approximately three tera watts annualy, which equates to 1.4 million tonnes of coal and 6.2 billion lbs of carbon emissions.
He said the Chennai plant would produce over ten per cent of the total metal halide lamps produced in the world.
Mr Enok said the Company would celebrate its 25th anniversary in September this year, with a target sales volume of USD 275 million.
UNI SNR DS 1542