Saint-Gobain to invest Rs1,000 crore in Chennai facility1 min read . Updated: 14 Jan 2016, 03:06 AM IST
Firm to set up a new float glass unit and a coating unit at its Sriperumbudur facility near Chennai
Chennai: Glass maker Saint-Gobain Glass India Ltd will invest ₹ 1,000 crore to set up a new float glass unit and a coating unit at its Sriperumbudur facility near Chennai.
“We are seeing traction in value-added glasses in tier II cities – Trichy, Salem, Tirupur and Erode -- compared with the saturated metros Chennai, Hyderabad and Delhi," said B. Santhanam, president and managing director – flat glass (South Asia, Malaysia and Egypt), at the company.
The new float glass unit will be the third one in its Sriperumbudur facility and the largest in India. The new facilities will raise the production of glass to 2,500 tonnes from 1,500 tonnes a day. These facilities are expected to be completed in 24 to 27 months and go on stream by early 2018.
The new magnetron coater facility will manufacture 144 million sq ft of energy-efficient glass catering to the company’s export markets in Africa, West Asia, South-East Asia and Oceania regions. The investment will be funded partially by its Paris-based parent company and internal accruals.