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Our Bureau

Kolkata , April 28

THE Rs 7,000-crore turnover Videocon Group on Thursday unveiled plans to invest Rs 300 crore in West Bengal. The investment would be made through Kitchen Appliances India Ltd, a Videocon Group subsidiary.

While Rs 100 crore would be invested in a plant at Taratola in Kolkata for manufacturing desktop & laptop computers and special glass for television picture tubes, Rs 200 crore would be invested in a "IT hub" that would be set up in the Salt Lake Electronics Complex here.

Stating this at a press conference here on Thursday after the inauguration of Videocon's Taratola factory, Mr V.N. Dhoot, Chairman of the Videocon Group, said the factory would manufacture a special type of picture tube glass for the first time in eastern India. Besides, the plant would also manufacture desktops and laptops that would be compatible with televisions in the same format.

The plant would have a capacity to manufacture 6,000 personal computers per day. However, to begin with, 5,000 personal computers would be manufactured every month and the production would be ramped up depending upon the demand.

Mr Dhoot said the IT hub would be set up on the excess land at Kitchen Appliances' Salt Lake factory. Besides providing infrastructure for stakeholders in the IT industry, the Videocon Group would also explore the scope in the IT business that can find fruition through the proposed IT hub.

He said the Group had decided to float a GDR issue of Rs 2,000 crore in June this year. The GDRs would be listed at the Luxembourg Stock Exchange. Of the Rs 2,000-crore proposed to be raised, Rs 1,200 crore would be set aside for exploration and production of oil while the balance would be used for funding acquisitions in the oil sector in countries such as Sudan and Ukraine. The Group has decided to "bid aggressively" in the National Exploration & Licensing Policy-V, Mr Dhoot said.

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