Chennai: French glass manufacturing company Saint Gobain, inaugurated three world-class facilities, including a third float glass manufacturing unit, set up with an investment of over Rs 1,200 crore at its existing plant in Sriperumbudur, near here.
The facilities were inaugurated by the Chief Minister of Tamilnadu, Edappadi K Palaniswami. Saint-Gobain has also announced an additional Rs 720 crore investment in Tamilnadu over the next six years.
To meet the growing demands of the glass market both domestic and international, a third float glass manufacturing plant and an advanced magnetron coater and glass solution lines apart from a rainwater harvesting reservoir were inaugurated, Saint Gobain, said on Monday. These initiatives takes the cumulative investment in the ‘World Glass’ complex to more than Rs 3,000 crore, it added.
Speaking to reporters before the inauguration, managing director, Saint Gobain India, B Santhanam, said, “India is one of the fastest growing markets for us and we are set to welcome the largest and most advanced glass manufacturing plant here. This new expansion will accelerate our momentum in realising the vision of being the clear choice for glass solutions in india.”
“Being one of the fastest growing economies in the world, India is an important market and investment destination for Saint Gobain,” said chairman and CEO of Saint Gobain, Pierre-Andre de Chalendar.
The third float glass plant is expected to manufacture a wide range of complex products that cater to the needs of sustainable habitats and affordable luxury.
With the magnetron coater the World Glass complex will have the capacity to manufacture 140 million square ft of high performance energy efficient glass catering to the entire Africa, Middleast, ASEAN and Oceania region.
“Essentially the three new investment we have made can add about 400 direct and indirect employment,” added Santhanam.
Chairman, Saint Gobain India, Anand Y Mahajan, said, “In India we are growing at an average of 10 per cent per annum. Ten years from now, we will triple our sales and that’s an ambition that is supported by Saint Gobain.”
| Impact of GST |
| About the impact of GST on the sales for Saint Gobain, Santhanam said, “Its been broadly positive. Even in July 2017, when it was first implenented, we haven’t had an deceleration of sales. Having said that if gst is fully implemented for real estate we will benefit more.”
Santhanam also indicated that efforts were on to switch to gas away from expensive furnace oil. “We are working closely with the Indian oil corporation. LNG is the best possible alternative. It will help improve the quality of glass that we produce and By 2020 all three floats will be LNG,” he said. The firm is also in talks with Neyveli Lignite Corporation for getting the glass-grade sand from the mines. |