Moser Baer to invest 5bn in 10 years

Moser Baer Photovoltaic,a wholly -owned subsidiary of Moser Baer India,said it would invest USD 5 billion in its manufacturing facilities in Chennai and Hyderabad over 10 years.

8220;We would be investing USD 5 billion approximately Rs 23,000 crore in our Chennai and Hyderabad units8230; this is investment is for ten-year period,8221; Moser Baer Managing Director Deepak Puri told reporters on the sidelines of India Economic Summit.

The expansion at the company8217;s Noida unit has been delayed due to economic downturn,8221;at present we are going slow8230; our investment is for a longer duration,8221; he said.

Asked about the company8217;s listing on the international bourses,Puri said,8221;We do not intend to hit the global markets as of now8221;.

He added that the company would arrange funds from other sources.