Sunday, 9 September, 2007

Moser Baer plans Rs 1,000-cr unit near Chennai

Optical disc manufacturer Moser Baer India is likely to set up a 100-acre manufacturing unit located in the special economic zone at Oragadam, near Chennai.

According to reliable sources, the project is likely to involve an investment of about Rs 1,000 crore. However, it is not clear what the unit will manufacture — CDs, DVDs or wafers used to produce solar cells. Earlier this year, senior company officials had told Business Line that Moser Baer was exploring the possibility of setting up a thin film solar fab unit at the Noida SEZ for wafer manufacturing that would in turn be used to produce solar cells.

This April, the company’s subsidiary, Moser Baer Photo Voltaic, acquired 40 per cent equity in Slovenia-based Solarvalue Proizvodnja with an aim to produce solar cells at competitive prices. Moser Baer also has a home entertainment business called Moser Baer Entertainment.

It is understood that, as per government policy, a minimum investment of Rs 1,000 crore in a semiconductor manufacturing facility that includes solar cells and storage devices is entitled to incentives of up to 25 per cent of the project cost.

When contacted, company officials said discussions were ongoing with the Government and “nothing is finalised”.

- thehindubusinessline