Published On:November 28 2017
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Touch screen panel production plant to come up in Vizag.
Gouttephone Technology Private Limited will be setting up a world-class touch screen panel production plant in Visakhapatnam in collaboration with Taiwanese leading R&D house with an investment of $76 million.
The project for which the company, one of the leaders in touch screen panel manufacturing, has identified five acres land in Visakhapatnam Special Economic Zone and signed an MoU with Andhra Pradesh Economic Development Board (APEDB) sometime ago.
The unit once commissioned fully will produce 1.5 million touch screen panels per annum and create 250 direct and 50 indirect jobs. APEDB will provide necessary support to the project proponent in expediting the establishment of the project by getting the required approvals.
The project is scheduled to be commissioned in the second half of 2018, sources in APEDB told The Hindu.
Visakhapatnam is expected to find a place in laptop and smartphone manufacturing with the touch screen panels produced by the new project to be sourced by several production units.
The MoU was signed between Gouttephone Technology Limited directors Ramesh Kumar and Amardeep Singh and APEDB CEO J. Krishna Kishore.As per the MoU, the project proponent will commit to input its respective strengths and advantages in terms of investment, technology, planning and design and equipment into setting up the project.
APEDB will facilitate to provide necessary assistance for the investor’s entry to the market in India
According to APEDB officials, Visakhapatnam had remained the hot favourite for investment from both the domestic and foreign companies in various fields due connectivity and its strategic location.