Videocon: India to Manufacture LCD

Videocon will invest Rs 900 crore (Rs 900 x 10 million = 9 billion –> US$454 million ) in West Bengal to setup a Rs 100-crore (Rs 100 x 10 million = 1 billion –> US$50 million) LCD TV manufacturing unit at its Taratolla factory and a US$400 million 40 lakh sq.ft (40 x 100,000 = 4 million sq.ft) IT facility at its existing factory at Salt Lake. Salt Lake (Bidhan Nagar) is a “well-planned and well-to-do satellite township developed to accommodate the booming population of Kolkata… [and] is famous as one of the nicer places in the city and also a center for the IT industry,” according to Wikipedia. Videocon acquired Thomson’s picture tube plants worldwide and in the process acquired LCD technology. Videocon entered into a confidential agreement with a Japanese company for technical expertise.

Source: The Economic Times

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