Saint-Gobain said it will continue its planned investment of more than 25 billion INR in greenfield and brownfield expansion in India in two years.
Santhanam B., chairman and managing director of Saint-Gobain India, said, “We are ahead of the curve on the investment front.”
He added, “Based on the long-range plan, as a group, we will be completing investments of 25 billion INR in FY22 and FY23. We are creating larger facilities, looking at potential acquisitions, investments in start-ups, accelerating spends on digital transformation and increasing R&D spend.”
The plan includes two investments of 5 billion INR each in capacity expansion and an investment of 10 billion INR in a greenfield plant to manufacture building materials for which the location is yet to be finalised.
The investments in start-ups and inorganic growth would be over and above the committed investment.