Saint-Gobain India signs MoU to invest Rs 3,400 crore in Tamil Nadu
This new tranche will bring the company’s total investment in the state up to Rs 8,000 crore.
Saint-Gobain India signed an MoU with the Tamil Nadu Government for investment to the tune of Rs 3,400 crore in the state.
The MoU entails a series of green and brownfield investments in several manufacturing sectors in Tamil Nadu, taking Saint-Gobain India’s total investment in Tamil Nadu to over Rs 8,000 crore.
Saint-Gobain India was represented by B Santhanam, CEO - Asia Pacific and India Region and Chairman and the MoU was signed in the presence of Honorable Chief Minister M K Stalin, senior ministers, and officials of the Government of Tamil Nadu during the Global Investors Meet, 2024.
Chief Minister Stalin appreciated Saint-Gobain’s contribution over the past two and a half decades in the economic and industrial progress of the state.
B Santhanam said, “We are investing Rs 3,400 crore across different businesses: glasswool, gypsum plasterboard, plaster, acoustic ceiling, float glass, solar glass, adhesives, sealants, mortars, and ceramics in our next phase of expansion in Tamil Nadu. As trailblazers in Light and Sustainable Construction, we are well poised to provide building material solutions that combine performance, aesthetics, and sustainability.”
This acquisition would fall within related party transaction as Killwatt GmbH is an associate company.
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The initial phase of this expansion plans will begin from the north and south regions.