New Delhi, Nov 24 (ANI): Lanco Infratech Limited (LITL), one of India’s leading business conglomerate having businesses in the domains of Engineering, Procurement and Construction (EPC), Power, Solar, Natural Resources and Infrastructure announced its subsidiary Lanco Solar Private Limited signing an agreement with Chhattisgarh Government to bring Chhattisgarh on the global silicon map.
As per the MOU inked with the Chhattisgarh Government, Lanco Solar will set up 100 MW solar cell manufacturing plant. For the integrated solar PV manufacturing project, which re-started in July 2015, LITL has already done an investment of Rs. 1200 crore to manufacture Poly-Silicon Refining and Wafer Plant and 150 MW module plant.
The MOU was signed by the Chhattisgarh Industry Secretary, Subodh Singh, and Lanco Solar President, Raj Kumar Roy in the presence of Dr Raman Singh, Chief Minister, Chhattisgarh, L Madhusudhan Rao, Executive Chairman of Lanco amongst others.
Commenting on development and signing an MOU with CG Govt., L Madhusudhan Rao, Executive Chairman, Lanco Infratech said, “We welcome government’s initiative of accelerating the development and green energy mission by inviting participation from foreign players who will not only bring in technological know-how but will also create employment opportunities. Solar power in India has a promising future.”
“We feel that the location of the plant is ideal as it is centrally located for entire Indian market. We are elated to be part of the MOU as this will be a showcase project being the first poly silicon and Ingots and Wafers manufacturing facility coming up in India which will be bringing the state of Chhattisgarh on global Silicon map,” added Rao.
Other salient features of the project that will attract investments are manufacturing units within SEZ located in Chhattisgarh that supports logistic advantage for marketing being centrally located for entire Indian market. The existing industrial zone within 40 to 80 km periphery of this SEZ would provide adequate manpower and sub-vendor base support to manufacturing units in this SEZ.
In view of the ‘Make in India initiative’, ambitious Solar development plans and the employment generation potential of this venture, Chhattisgarh and Lanco have decided to jointly invite companies for setting up Solar PV manufacturing facilities in this SEZ, said Madhusudhan Rao. (ANI)