A high-level team from Saint-Gobain met Tamil Nadu chief minister J. Jayalalithaa on 30 August 2005 in connection with the French firm“s foreign direct investment (FDI) plans in the state.
A state g…
A high-level team from Saint-Gobain met Tamil Nadu chief minister J. Jayalalithaa on 30 August 2005 in connection with the French firm“s foreign direct investment (FDI) plans in the state. A state government press release said that a seven member delegation led by Jacques Aschenbroich, chairman and president, Saint-Gobain Vitrage, met Jayalalithaa regarding the establishment of the float glass project at Sriperumbudur Industrial Park, near Chennai. Saint-Gobain India has invested INR 7 billion to set up its second float glass plant and an automotive glass plant in Sriperumbudur. According to the press release, the company chose to expand in Chennai itself in view of factors such as favourable investment climate. An Expression of Commitment was signed between the State Government and Saint Gobain on 30 October 2003, wherein the Government offered a support package. The automotive glass plant commenced commercial operations in July 2005, while the float glass plant is expected to start commercial operations in the final quarter of 2005. The company had already invested INR 5.25 billion in setting up a plant in Sriperumbudur. The expansion is intended to take Saint-Gobain“s float glass capacity to 1,500 tonne a day. Earlier in 2005, the managing director of Saint-Gobain India, B. Santhanam told the media that the expanded manufacturing facility would be the largest integrated glass manufacturing complex (including automative, architectural, building, solar power and control applications) in the Saint-Gobain group.