"Saint-Gobain's Global Team Pledges ₹3,400 Crore Investment in Tamil Nadu After Meeting with CM Stalin"

French company Saint-Gobain has announced plans to invest an additional ₹3,400 crore in various business sectors in Tamil Nadu, bringing its total investment in the state to nearly ₹8,000 crore. This substantial commitment follows Saint-Gobain's earlier statement in July 2022, where they expressed their intent to invest approximately ₹8,000 crore to expand their operations in India.

B Santhanam, the CEO of the Asia Pacific and India region and Chairman of Saint-Gobain India, revealed, "We are investing ₹3,400 crore across different businesses, including glasswool, gypsum plasterboard, plaster, acoustic ceiling, floating glass, solar glass, adhesives, sealants, mortars, and ceramics, in our next phase of expansion in Tamil Nadu."

The announcement came after a meeting between Saint-Gobain's global board, led by Pierre-Andre de Chalendar, Chairman, and Benoit Bazin, CEO, and Tamil Nadu Chief Minister MK Stalin, along with senior ministers and state officials on Friday.

Tamil Nadu Industries Minister TRB Rajaa shared in a statement on Twitter that Chief Minister Stalin engaged in discussions with members of Saint-Gobain's global board, who had convened in Tamil Nadu for their first-ever annual board meeting outside of France, marking a historic milestone for the company with a presence in 76 countries, spanning over 350 years.

In 2022, Saint-Gobain's India operations reported a turnover of ₹12,300 crore. The company's Sriperumbudur plant, near Chennai, produces approximately 1.3 million square meters of glass, while their plasterboard production amounts to 90 million square meters.

Santhanam had previously indicated the company's interest in glasswool-based insulation materials. In December 2021, Saint-Gobain acquired Rockwool India for ₹150 crore and later acquired UP-based glasswool manufacturer Twiga for ₹400 crore. Both Rockwool and Twiga manufactured glasswool and stone wool products under Saint-Gobain licenses, which find application in thermal, acoustic, and fire-safety purposes.

HBL