Yash Birla Group offers to build PV, polysilicon plant in Andhra Pradesh

Jan 16, 2012 - Indian diversified holding company Yash Birla Group has placed a proposal with the local government of Andhra Pradesh to start the construction of a photovoltaic (PV) and polysilicon plant in the region, it said in a statement last week.

The proposed INR 100 billion (USD 1.9bn/EUR 1.5bn) facility will manufacture solar-grade polysilicon, silicon wafers and PV cells and panels, the company explained.

The project is part of the conglomerate's INR 130 billion investment programme, which includes as well the set-up of a sports university and an Ayurvedic village.

The group plans to raise funds for the projects through private equity dilution, internal accruals and a proposed initial public offering (IPO).

(INR 100 = USD 1.946/EUR 1.536)

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