Videocon Latur unit to go on stream soon

Videocon will invest Rs 375 crore in setting up a compact fluorescent lamp (CFL) unit at Latur.

The company has been offered a 20-acre piece of land in Latur to set up the unit. It is expected to commence production in the next four to five months, chief minister Vilasrao Deshmukh said here recently.

Confirming that a decision over the multi-product special economic zone (SEZ) proposed by Videocon at Wagholi near Pune still remained in a suspended state, the chief minister said that the government had put on hold the land acquisition procedure for the SEZ.

"As of now, no decision has been made at the government level over the future of this SEZ," he said.

When asked if Videocon is being offered some other site to relocate the SEZ, the chief minister, Vilasrao Deshmukh, said: "If farmers in Pune district are not ready to hand over their land for SEZs or mega projects, then these projects will be moved to remote areas."