Saint-Gobain Glass India (SGGI), makers of a wide variety of flat glass products, has firmed up plans to invest R1,500 crore in the country across its manufacturing facilities over a period of two years. The glass maker, which recently bought out a float glass plant from Sezal Glass for R686 crore, is planning to set up a solar glass complex in Tamil Nadu, envisaging an initial investment of R 500 crore. The company is also raising foreign direct investment to the tune of $140 million.
B Santhanam, managing director, Saint Gobain Glass India, said, ?We are in talks in with the Tamil Nadu government for a land parcel required for our solar glass complex. The proposed unit would be 50% export oriented and we would like to have the unit closer to the ports. We are looking at some 60 acres of land at SIPCOT industrial estate.?
The company has recently acquired Sezal Glass’ float glass plant in Bharuch, Gujarat. The plant commenced operations in February 2010 and has a daily production capacity of 550 metric tonnes of flat glass.
With the existing glass complex at Sriperumbudur and the upcoming new glass complex at Bhiwadi, this strategic acquisition will give a pan-India manufacturing footprint to SGGI.
Santanam said, ?We would be making additional investments of R100 crore in the acquired plant for raw materials and it would be used as a manufacutring hub for West India.?
SGGI, a 100% subsidiary of Compagnie de Saint-Gobain, headquartered in Paris, commenced India operations in 2000 with the commissioning of its first float glass plant at Sriperumbudur, near Chennai. The R1,600 crore glass complex at Sriperumbudur, spread over 177 acres, houses two float glass plants to manufacture 1,200 tonnes of finished international quality float glass every day.
An investment of R1,000 crore in phases is being made in a float glass plant in Bhiwadi, Rajasthan, with a capacity to manufacture over 3,00,000 tonnes per year, making it one of the largest float glass plants in the world. It is planned to be operational by early 2012. Further investments for the automotive and solar industries, to serve north India are on the anvil.