Saint Gobain India to invest Rs 1,800 crore by next year

The company is also focusing on export opportunities in ASEAN countries other than West Asia

Flat glass products and solutions major Saint Gobain India is in the process of investing around Rs 1,800 crore till next year. A senior official said that the company has fast-tracked some of its investments as the confidence levels are improving with the better business sentiments.

Speaking to reporters in Chennai, B Santhanam, president and MD - Flat Glass South Asia, Egypt and Malaysia Saint-Gobain India (P) Ltd has said, "There are three major investments - the coater (Magnetron Coater line), float lines and we are investing in our gypsum ceilings business in Gujarat. Put together would be around Rs  1,800 crore, which will be completed next year."
 

He was speaking at the sidelines of a media interaction on the First Convocation of Saint-Gobain – NTTF flagship Skill & Talent Development initiative Learn While Earn (LWE).

He said that there has been an improvement in business confidence in the last six months across the industry. He added that the company is fast forwarding many of the of investment plans announced earlier.

“For instance, the investments in our ceilings business in Baruch is on a fast track. The investment we are making in Chennai for the second Magnetron, will be ready in March end. The Float line we are hoping to come up by end of next year or early first quarter of 2018. Earlier we weren't as confident about these deadlines,” he added.

The company is also targeting export opportunities in ASEAN countries. While it has been exporting to Middle East, the growth in demand in these markets is slowing down even as there are opportunities in the ASEAN countries.  He said that the company believes in keeping its exports at 15-20 per cent, while the the rest of the production would be for the domestic market.

The company has taken on board 53 students out of the 54 who were part of the LWE initiative, while one went on to become an entrepreneur. By 2020, the company’s aims to carry out all fresh Diploma Engineer recruitments through the LWE program.

LWE is jointly conceived by Saint-Gobain and NTTF.