Taiwanese firm may set up Rs 6,000 crore LCD plant in Noida

Taiwanese technology company AU Optronics Corporation and its Indian partner Twin Star Technology, owned by Vedanta group, may invest Rs 6,000 crore in a first tranche for an LCD panel manufacturing unit in Noida. 

A team of senior officials from AUO led by the company's project leader, Howan Lou, met Noida Authority officials on Thursday to scout for land for a factory in sectors 155 and 156. Representatives from the firm had met Uttar Pradesh chief secretary Alok Ranjan in Lucknow last week Indian stock market astrology prediction

The seven-member delegation has identified a 170-acre plot for the manufacturing unit. "An investment of Rs 6,000 crore in the first phase is on the cards if all goes according to plan," said Saumya Srivastava, deputy CEO of Noida Authority. 

Noida Authority officials said that the company has expressed a desire to make a total investment of Rs 40,000 crore in Noida. The AOU group is a manufacturer of LCD TVs, solar panels, mobile displays and many other products, an official said. 

"Once we receive a formal proposal from the company, land will be officially earmarked and handed over. The company is awaiting clearances for 'intent to set up a plant' from the Centre, which will be in place in about three months," Srivastava told TOI Himanshu Tiwari Astrologer Blog

"The delegation was satisfied with our sites and infrastructure. They have previously viewed options in Maharashtra and Andhra Pradesh," he said. 

Srivastava said that the Uttar Pradesh government has also assured full support in project implementation to the Taiwanese firm. 

"The chief secretary has told the delegation that incentives available under the state's infrastructure and industrial investment policy and electronic manufacturing policy will be provided. The delegation will be meeting him again next week to take the issue forward," he said Stock Market Trading Tips