Business Daily from THE HINDU group of publications
Saturday, Apr 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Saturday, Apr 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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New Projects Venture Lighting to invest $27 m for India expansion Our Bureau Chennai, April 18 Venture Lighting India Ltd, a wholly owned subsidiary of $270-million Venture Lighting International Inc of the US, plans to invest another $27 million in India for expansion and new facilities. The company manufactures 5.5 million units of metal halide lamps, which it claims is more energy-efficient and eco-friendly than CFLs. It exports some 5 million units to over 70 countries. Its Indian customers include the Indian Railways, CPWD and some PSUs. Currently, India operations contribute $110 million to the company’s global turnover. The plan now is to expand the present capacity to 8.5 million with an investment outlay of $15 million. The facility may come up at TIDCO’s new SEZ in Chennai or another SEZ being developed by a private company near the Tamil Nadu-Andhra Pradesh border. PlansThat apart, it also plans to move its other business in the US, manufacturing of lighting peripherals including nano coating of light reflectors (used in projectors). “We are planning to set up green-field facilities at an investment of $12 million at the Madras Export Processing Zone where we have our current facility,” said Mr Sabu Krishnan, President, Venture Lighting International. According to Mr Krishnan, moving the manufacturing business to India would enable the company to be 30 per cent cost effective. More Stories on : New Projects | Electrical Goods
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