Samsung urged to invest in photo-voltaic cell facility in Tamil Nadu
November 27th, 2010 - 4:44 pm ICT by IANSChennai, Nov 27 (IANS) Tamil Nadu Deputy Chief Minister M.K. Stalin has invited South Korean electronics giant Samsung to invest in a facility to produce solar photo-voltaic (PV) cells in the state.
Inaugurating Samsung India Electronics’ $75 million refrigerator plant (1.2 million units per annum capacity) at Sriperumbudur - around 50 km from here - Saturday, Stalin said: “The Government of India has recently announced a programme called Jawaharlal Nehru Solar Mission, with an ambitious target of promoting 20,000 MW of solar power projects. This programme has created a huge demand for solar PV cells and modules.”
He requested Samsung to consider investing in Tamil Nadu, in this emerging area of solar PV cells in addition to manufacturing LCD (liquid crystal display), plasma panels, compressors and others.
Referring to the memorandum of understanding (MoU) signed between the state government and Samsung in 2006, Stalin expressed his happiness that the company has invested around Rs.576 crore as against Rs.450 crore mentioned in the agreement.
He said the state government has offered an attractive incentive package for Samsung to invest additionally Rs.350 crore.
Citing a study made by Finnish mobile phone maker Nokia, Stalin said the total cost of manufacturing in Chennai is much cheaper than even China by over 11 percent in net present value (NPV) terms.
- Samsung to make India production hub for consumer electronics - Nov 26, 2010
- Samsung India posts $3.5 billion turnover in 2010 - Jan 20, 2011
- Tamil Nadu gives tax incentives to 10 investors - Feb 26, 2011
- Bangalore firm develops portable solar power generator - Apr 09, 2012
- Samsung India to expand Chennai facility at Rs.350 crore - Nov 03, 2010
- Tamil Nadu signs three MOUs worth Rs.13,000 crore - Aug 04, 2010
- Tamil Nadu invites electronic industries' ancillaries - Mar 28, 2010
- Samsung triples India handset output; invests $70 mn - Sep 15, 2011
- RPP Infra plans to set up 5 MW solar power plant - Dec 31, 2010
- Chennai will be world's largest auto-manufacturing hub: Stalin - Feb 10, 2011
- Samsung India plans 40 percent turnover growth to clock $5 bn - Sep 09, 2011
- Tamil Nadu to add 18,140 MW in five years - Nov 28, 2010
- BHEL to set up 5MW solar power plant in Karnataka - Jun 18, 2011
- Samsung to acquire Sony stake in LCD joint venture - Dec 26, 2011
- Tata Power to buy remaining 51 percent stake in Tata BP Solar - Dec 27, 2011
Tags: ambitious target, annum, compressors, crore, deputy chief minister, government of india, incentive package, jawaharlal nehru, liquid crystal display, memorandum of understanding, mobile phone maker, photo voltaic cell, plasma panels, present value, pv cells, samsung india electronics, solar power projects, south korean, sriperumbudur, stalin