U.S.-based firm Signet Solar Inc. on Monday signed a Memorandum of Understanding with the State government to set up a Rs.2000-crore manufacturing facility near Chennai.
The firm’s chairman, Prabhu Goel, signed the MoU with Industries Secretary M.F. Farooqui in the presence of Chief Minister M. Karunanidhi, Mr.Raja and a host of officials. “We are planning an initial investment of at least Rs.2,000 crore,” said Dr.Goel, in response to questions from presspersons.
The plant will come up at the SIPCOT Sriperumbudur Hi-Tech Special Economic Zone and will boost Tamil Nadu’s chances of attracting investment in high-technology electronic manufacturing industry, according to government officials. About 1,500 persons would be directly employed while another 3,000 are expected to find indirect employment.
When Signet Solar Inc., a firm run by NRIs with experience in semiconductor manufacturing, wanted to set up a manufacturing base in India, it considered all options and studied the offers made by many States.
They met Union Minister for Communications and Information Technology A. Raja and discussed their project to manufacture solar and silicon-based photovoltaic modules and thin technology products.
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1 comment:
Dear Sir,
Its an excellent project and its too late. Anyhow I heartly welcomed this project and wish all sucess for team and all. As an energy researcher of renewable sources I am proud to wish you all.
Thank you,
Kannan.RG
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