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Saint-Gobain to ink deal with State govt. during GIM 2019

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Company says it is looking at new lines of business

Saint-Gobain would be inking a deal with the State government during the Global Investors’ Meet (GIM), 2019, as part of the firm’s efforts to expand its operations in Tamil Nadu.

Senior officials of the company met Chief Minister Edappadi K. Palaniswami and government officials on Monday and expressed an interest in investing in the State.

Advanced products

Without disclosing the details, B. Santhanam, president and managing director, Flat Glass (South Asia, Malaysia and Egypt), Saint-Gobain India Private Limited, told The Hindu, “With this investment, we are looking at new lines of business and advanced products that can be exported.”

“We have completed the investments we had committed during the last GIM. In fact, we have exceeded [our threshold] and now we want to expand further,” he added.

During the Global Investors’ Meet 2015, Saint Gobain said that it would invest ₹800 crore in Mambakkam, Sriperumbudur, for manufacturing float glass.

A senior government official, requesting anonymity, said, “They have evinced interest in investing further in Tamil Nadu. The company has not given us details on how much they will be investing. Once they submit their proposals, we will see what kind of subsidy we can provide them. This firm has a long-standing relationship with the State.”

State-wide operations

Another official, in charge of conducting the Global Investors’ Meet 2019, said the company had indicated that the investment would be spread across all of its plants in Tamil Nadu.

The firm makes glass at Sriperumbudur near Chennai. It also makes ceramic materials at Perundurai and construction products at Thiruvallur.

Saint-Gobain started operations in 2000, with the commissioning of its first float glass plant. Since then, it has rapidly expanded, investing over ₹3,500 crore and consolidating its presence in the Indian flat glass market.

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Printable version | Jan 26, 2020 10:49:10 AM | https://www.thehindu.com/news/cities/chennai/saint-gobain-to-ink-deal-with-state-govt-during-gim-2019/article25875512.ece

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