COURBEVOIE (dpa-AFX) - French building materials firm Saint-Gobain (CODGF.PK) Wednesday said it would invest around 135 million euros over the next two years to develop production capacity at its glass facility near Chennai, in India.
A third flat glass production facility, the Group's fifth float in India, and a second coater for the construction market will be built on this site. The plant will produce premium high-performance, energy efficient glass using leading-edge technologies which contribute to the environment protection.
Saint-Gobain noted that the latest initiative bolsters its position in flat glass as leader of the fast-growing Indian market. It is in line with the company's strategy to increase the share of its industrial assets located outside Western Europe.
In Paris, Saint-Gobain shares were trading at 37.33 euros, up 1.54 percent.
Copyright RTT News/dpa-AFX