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Our Bureau

Mumbai , Jan. 11

CARL Zeiss, world's largest lens manufacturer, has set up its first manufacturing facility in Asia, in Goa.

With this, India will act as the hub for the region and also an important sourcing destination for the Carl Zeiss network.

For this, the $3-billion German company has entered into a joint venture with GKB Hi-Tech Lenses through the equity route.

The joint venture will invest Rs 60 crore in the project during 2005.

Carl Zeiss would take a 26 per cent equity in GKB Hi-Tech Lenses, a company release said.

Apart from manufacturing and selling the world-class Zeiss brand lenses in India, the joint venture will export `made-in-India' products exclusively to Carl Zeiss, Germany. The joint venture will also have a `Zeiss Brand Lab' with a manufacturing capacity of 1,000 prescriptions a day.

Mr Mahendra K. Gupta, Chairman & Managing Director, GKB Hi-Tech Lenses, said, "We are very excited to partner with Carl Zeiss. Our value proposition to the Indian customer will be unique and we are confident that any discerning Indian who looks for quality would look forward to our products."

Dr Michael Kaschke, member of the board of Carl Zeiss, said: "We see India as the growth story in the Asian region. We are glad that the Indian operations have started in a record five months and ahead of schedule. The plant is in fact the latest built by us anywhere in the world".

Starting January, the company will launch 70 exclusive showrooms in Chennai, Bangalore, Hyderabad, Kochi, Coimbatore, Mysore, Mangalore, Hubli, Udipi, Mumbai and Goa. The company is embarking on expansion plans with chains of 10 to 20 showrooms in each city by March.

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