Moser Baer to set up Rs2,000-crore photovoltaic fabrication facility in TN

Mumbai: Compact disc and DVD manufacturer Moser Baer will invest Rs2,000 crore to set up the country''s first solar photovoltaic fabrication facility at Oragadam, near Chennai, company''s managing director Deepak Puri said.

Speaking at the CII sponsored ''Connect 2007'' conference, he said this amount would be the initial investment.

The facility, to come up at special economic zone, would produce photovoltaic films, one of the sources of solar power generation. The facility would use cutting edge technology and is expected to generate employment for about 4,000 people, he said.

Tamil Nadu industries secretary Shakthikanta Das later told newspersons that the state government would sign a memorandum of understanding (MoU) with Moser Baer soon in this regard.

Puri told reporters that ''''the construction work will begin within four weeks of getting the land. We have sought 125 acres of land. The first phase of the project will be ready in 15 to 18 months.''''

The proposed plant, with a capacity of 80 MW of power, would cater to exports and also the domestic market. The company expected a revenue of $1 billion from this facility within three and a half years.