Velankani Group to set up silicon complex

Hyderabad: Velankani Group has evinced interest to set up a Silicon Complex, first of its kind in India, for manufacturing chlorosilanes, polysilicon and other silicon compounds for semiconductor and photo-voltaic solar markets at Visakhapatnam.

The Andhra Pradesh Government has provided 150 acres to the Group and was ready to give another 80 acres, the Chief Minister, Dr Y.S. Rajasekhara Reddy, said.

Speaking on the occasion, Mr Kiron Shah, Managing Director and Chief Executive Officer of the Bangalore-based group, said it would be investing Rs 14,000 crore in the project the next seven years, of which Rs 1,350 crore would be invested in the first two years of its operation.

“The proposed project will establish a state of the art fully backward and forward integrated manufacturing facility leading to 1.5 Gigawatt PV Modules and the first poly silicon product will be rolled out by October 2009,” Mr Shah said.

The project is expected to generate direct employment of 10,000 besides creating indirect employment of nearly 2.5 times of the direct employment.