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Our Bureau

Chennai , Jan. 18

Momentive Performance Materials Inc (formerly GE Advanced Materials) intends to put up a $25-million (Rs 100-crore) plant at Oragadam near Chennai to manufacture silicones.

At a press conference here. the company's President and CEO, Mr Wayne Hewett, and Momentive India's Managing Director, Mr V.P. Nalian, said that Momentive would also set up a `global engineering centre' to cater to the group's requirements worldwide.

Momentive has acquired 15 acres of land.

It is looking to buy another 15 acres as a cushion for any future expansion.

It is also seeking EOU status for its engineering centre.

Silicones find application in a number of industries, ranging from automotive to textiles to construction.

The officials gave an indication of the plant's capacity but said it was not firmed up yet.

Momentive Performance Materials was created by the sale of GE Advanced Materials business to Apollo Management, LP, a private equity fund.

The sale happened in early December 2006, for a consideration of $3.8 billion.

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