Chairman of Vedanta Group, Anil Agarwal has announced the establishment of a $10 billion LCD screen plant to take place in 2018. This will be India’s first electronics plant with such a huge investment.
Agarwal was quoted by PTI as saying: “Panel FAB is expected to begin by 2018 with full production over the next 10 years subject to external environment. The proposed LCD manufacturing unit, the first of its kind in India, will be operated by Twinstar Display Technologies. It is promoted by Volcan Investments Ltd, whose other ventures include Vedanta Resources and Sterlite Technologies.”
Agarwal and his family hold a major stake in Volcan Investments.
Vedanta had committed to set up a LCD plant at the first Digital India week which was inaugurated by Prime Minister Narendra Modi in July 2015. The company has agreed to invest Rs 4.5 lakh crore with an aim to generate 18 lakh jobs. For this, the proposed firm has signed an agreement with the Maharashtra government.