www.skpgroup.com April 2007
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India Inc - Investment briefs

Moser Baer plans largest thin film facility in India

Optical storage maker Moser Baer recently made known its plans to invest US $ 250 mn to set up the largest thin-film solar fabrication facility in the world at Greater Noida close to India’s capital Delhi.

The new facility, with a built-up area of 18000 sq m, will be located next to the Company’s existing solar photovoltaic plant.

The thin-film, which Moser Baer intends to produce, will have an area of 5.7 sq m, the world’s largest as the current industry benchmark is 1.5 sq m.

Distributed over a period of three years, the investment qualifies for government incentives under the recently announced IT and semiconductor policy. Out of the $250 mn, nearly $100 mn will go towards the initial capital expenditure, explained Moser Baer Photovoltaic CEO- Ravi Khanna.

Moser Baer CMD Deepak Puri explained given the current scenario the company would also enjoy the first-mover advantage in manufacturing large area thin-film modules. Moser Baer has already entered into a technology partnership with the US-based Applied Materials, provider of nanotechnology solutions for the electronics industry.

Thin-film solar modules are ideal for energy farms, rural applications and building integrated photovoltaic markets. With increasing awareness of the need to switch to more affordable and environment friendly energy solutions, the market for thin-film solar modules is expected to grow 10 fold; from the current 250 mw to 2 gw with a market size of $5 bn by 2010.

J&J to set up new R&D hub in Eastern India

Healthcare major Johnson & Johnson Ltd is keen to set up its second R&D hub in India in the eastern region.

Speaking at a seminar on Indo-US economic cooperation, A.S. Krishna, director, government affairs, Johnson & Johnson Ltd suggested that if the research work could be done in Kolkata or somewhere in West Bengal the charges of medicines and other healthcare services would definitely come down in this part of India. As such the company is looking for a site to set up its proposed unit in this region.

The Company already has an R&D clinical developing unit in India – the Global Clinical Organisation (GCO) - in Mumbai, which is responsible for all the research works for Johnson & Johnson in India. Now looking at tie-ups with private companies in India for project-based collaborations, the Company intends to increase its staff strength from 100 to 500-600 in the next five years.

Of the annual global spend of $7.5 bn on R&D projects, India received $15-20 mn in 2006. In future, the Company plans to invest in beefing up its capabilities in India.
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Hershey to buy Godrej Beverages

American chocolate and confectionery-maker Hershey is set to acquire a 51% equity stake in Godrej Beverages & Food for Rs 238 crore or about $54 mn.

Godrej Beverages & Food represents the foods and beverages business of the Mumbai-based Godrej group. It was formed last year when Godrej Industries merged its foods division with another group company- Godrej Tea. With a turnover of around Rs 400 crore (US $ 88.9), the company is engaged in categories such as tea, edible oils, health drinks including soymilk, tomato puree, fruit drinks and bakery fats.

While allowing the American giant an easy entry into the Indian market, the acquisition would also make it the largest player in the domestic confectionery market.

The move is in keeping with the Company’s recent restructuring programme for its production facilities and supply chain to meet current and emerging marketplace needs.

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Aircel to invest US$ 400 mn for expansion

Cellular service provider Aircel recently launched an over $400-mn pan-India network expansion to double its subscriber base of 5 mn over 18-24 months.

After several successful test trials for 3G technology in association with China-based ZTE in Chennai, the Company is now hoping to extend its services to other regions of the country in the next couple of years.

Currently the Company has a presence in nine telecom circles, and has obtained licences to launch services in the remaining 14 circles of the country. It has received permission to conduct such trials in Coimbatore, Bhubaneshwar, Shillong and Guwahati and is likely to team up with local vendors like Ericsson, Nokia and Siemens for trials in these four cities.

Last year, the company invested close to $300 mn in expanding its network, and has a subscriber base of approximately 5 mn.

The services that were tested include voice calls and video calls (64 Kpbs), downloading of movies pictures (384-1024 Kbps) and HSDPA-based (High Speed Downlink Packet Access) services like large data downloads and streaming movies online (at 3.3 Mbps).

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India Inc
- Investment briefs
Moser Baer plans largest thin film facility in India
J&J to set up new R&D hub in Eastern India
Hershey to buy Godrej Beverages
Aircel to invest US$ 400 mn for expansion
Tata steel gets green signal for Corus takeover
Autoline to acquire 51 per cent in Belgium's Stokota
Hyundai to set up LCV plant at Pune
AstraZeneca commissions Lab in Bangalore
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