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Chennai, Feb 17: India will be in the forefront of investment among the transitional economies for the Paris-based glass giant Saint-Gobain for the next five years. “In all business investments of Saint-Gobain in Asia, India will be the priority”, Mr Jean Louis Beffa, chairman and CEO of Saint-Gobain, said here on Friday.
Saint-Goabain has nine companies in India operating in the field of glass, automotive and other glass products, mirrors and building materials . In its ‘World Glass Complex’ at Sriperumbudur near here, the company has made an overall investment of Rs 1,400 crore. Another Rs 100 crore investment is under way.
Mr Beffa said India is growing at a “fantastic speed”, creating fantastic demand for high quality, value-added glass products. “We have an extraordinary growth platform and a unique opportunity here”, he said.
He said India was already the single largest investment destination of his company and it would continue to invest to support the plans of Saint-Gobain India management to have 36% share of the Indian glass and glass products market in the coming years.
He finds growth prospects for glass in the architectural, automotive, solar thermal control sectors, and for plaster boards and bulding materials.
He said Saint-Gobain would continue to invest in all these sectors.
“After taking a reasonable dividend on our investments, we will reinvest all the money we make from India for the expansion of Indian operations. That will be very substantial amount. We are in India for the long-term”, he said.
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