Sterlite Technologies, an arm of the Vedanta Group, has acquired 50 acres in Maharashtra for a Rs 9,700-crore liquid crystal display (LCD) manufacturing project. The state-run Maharashtra Industrial Development Corporation (MIDC) recently handed over the land. The company was exploring investment opportunities in various states and finally selected a site at the Shendre industrial estate near Aurangabad.
It plans to commission the first phase by the end of 2012. The estimated investment would be Rs 5,150 crore in the first phase and Rs 4,550 crore in the second one. This would be the first LCD project in the country and the fourth in the world.
The company is expected to seek a customised incentive package under the state’s mega project policy. The Shendre facility would have an annual production capacity of 720,000 of 15-inch LCD panels.
Got a minute? Help us shape our products!
Thank you for being a registered user on MoneyWorks4me (SEBI Registered: INA000013323) - with 2.75 lac+ registered users.
We are working on shaping our products to enable you confidently invest in stocks. Towards this we want to understand your needs and priorities better. It will only take a minute and would help us serve you better!
What more? You get special offer as token of appreciation of your valuable feedback once new version is launched. We assure you it will be a solution you will be happy to use!