Twinstar Display Technologies

Vedanta Group's owner Anil Agarwal is setting up the country’s first LCD panel manufacturing plant in Maharashtra with an investment of $10 billion (Rs.68,000 crore). LCD panels are widely used in computers, televisions and mobile phones.
The investment is through a new company called Twinstar Display Technologies, which is promoted by holding company Volcano Investments, chairman Agarwal said. The billionaire metals tycoon is set to sign a memorandum of understanding with the Maharashtra government on the first day of 'Make in India' week. “All over the world you see ‘Made in China’ electronics, but India can also manufacture its own electronics,“ Agarwal said. “We worked with the government and agreed that this project has to be a 'Made in India' product.“ Agarwal said the company will endeavour to make India a significant export hub of display units with the setting up of the unit, known as Panel FAB.
India’s LCD market is entirely import-dependent, and according to Twinstar Display, the import bill is expected to touch $10 billion by 2020. LCD fabrication units are largely based out of China, Taiwan, Japan and South Korea.
Under the agreement, Twinstar Display will invest $10 billion in five phases, and is expected to begin production by 2018, with full capacity over the next 10 years. The plant will either be set up in Pune or Nagpur.
Although Twinstar Display is an independent company, it is being monitored by Vedanta Group's technology arm, Sterlite Technologies, till the time a full-fledged team takes over in the new company. The final structure of the company will be decided at a later date.
Twinstar Display may look for an international strategic partner or collaborate on technology with companies abroad, Agarwal said. “This is the time to strike. This is the time to build your capacity because it will be cheaper. This is the time when people and talent are available,“ he said.
The project is being set up under Maharashtra government's new policy on fabrication units that aims to boost domestic manufacturing of electronics and reduce the import bill. All companies under the policy will be promised round-the-clock power, loan subsidies, a 10-year property tax waiver, a 15-year waiver on electricity duty, power tariff subsidies, a 100% value added tax subsidy, among other benefits.
Twinstar Display said that upon completion, the project will provide direct and indirect employment to over 30,000 people, and contribute 7-10% to Maharashtra’s industrial GDP.

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