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Optiemus-Corning JV to establish Rs 1,000 crore glass manufacturing unit in Tamil Nadu
Manufacturing - Jan 25,2024 -Electronics maker Corning has entered a joint venture (JV) with Indian telecommunications company Optiemus Infracom.
The JV, Bharat Innovative Glass Technologies (BIG TECH) will set up a new facility for cover glass manufacturing at SIPCOT Pillaipakkam in Kancheepuram district of Tamil Nadu, entailing an investment of Rs 1,003 crore.
On 22 January, 2024, a memorandum of understanding (MoU) was signed between the company and Guidance Tamil Nadu, in the presence of Chief Minister MK Stalin.
It is expected to lead to generation of employment opportunities for 840 people.
The company plans to manufacture front-cover glass with extensive processes in India and supply to display panel makers and mobile manufacturers in India. This would bring in precision glass-processing technology for the first time in the country. Furtheron, the company, which is a key parts supplier for Apple will create value and aid in job creation.
The Indian electronics market is witnessing and benefiting from a global shift in supply chains away from China, with additional support from the Indian government's production-linked incentives to promote local manufacturing.
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