Moser Baer to set up SEZs

Compact disk maker Moser Baer India is planning to set up a special economic zones for the purpose of entering into the photo voltaic cells and module-making business.

According to a release issued by the company to the exchanges today, the board of directors, at its meeting held on February 18, 2006, decided to establish and invest in a new public limited subsidiary company, which will function as developer of the special economic zones.

The board will also alter the objects clause of the memorandum of association of the company to facilitate acting as a developer, the release added.