Moser Baer to invest $5 billion in manufacturing facilities over ten years
10 Nov 2009
Moser Baer Photovoltaic, a wholly -owned subsidiary of Moser Baer India, today said it would invest $5 billion in its manufacturing facilities in Chennai and Hyderabad over 10 years.
According to Deepak Puri, managing director, the company would invest $5 billion in its Chennai and Hyderabad units, an investment for a 10-year period. He was speaking to the media on the sidelines of India Economic Summit in New Delhi.
He added that the expansion of the Noida unit has been delayed due to economic downturn and at present the company was going slow and the company's investment was for a longer duration.
He added that the company was not interested in listing on the international bourses at present as it did not intend to hit the global markets at present.
The company has already been allotted 100 acres in Fabcity, near Shamshabad, for its proposed facility which will have a capacity of 500 MW.
The Indian Express quoted Rajiv Arya, CEO, saying the company has plans to expand in Tamil Nadu where the government has allotted land but everything depended on domestic market demand.