Date:29/06/2007 URL: http://www.thehindu.com/2007/06/29/stories/2007062959430700.htm

Tamil Nadu

Videocon pitches for Chennai

N. Anand

CHENNAI: Maharashtra is more than willing to help the Videocon Group set up a Rs.1,000-crore plasma panel production there, but its chairman Venugopal N Dhoot prefers locating it in or around Chennai.

Mr. Dhoot told The Hindu here on Thursday that he preferred Tamil Nadu to Maharashtra as it was a “happening” State, peaceful and had a stable government. Even some Singapore companies are willing to come to Chennai as part of the proposed Singapore Corridor project. This spoke volumes about the State.

“We are ready to put up the plasma panel production unit in Tamil Nadu, if we get some concessions from the State Government. We are meeting the Chief Minister shortly to discuss this project as well as the Singapore Corridor project, which will bring in Rs. 15,000 crore,” he said.

100 acres sought

Videocon is seeking 100 acres. The plant will have an annual production capacity of 10 lakh plasma television sets and provide employment to 5,000 workers.

“This will be Videocon’s first plasma panel production unit in the country. We have a similar plant in Italy that was purchased from Thomson,” he said.

Mr. Dhoot said it would take roughly 12 months to begin production after obtaining the licence. The group was yet to decide on the quantum of exports from the proposed plant. Earnings in the first year would be around Rs. 20 crore. “However, everything depends on our meeting with the Chief Minister.”