Reddy may visit Moser Baer plant

Andhra Pradesh chief minister YS Rajasekhara Reddy, who is on a three-day visit to Delhi from today, is likely to visit the Moser Baer's photovoltaic cell manufacturing facility at Noida on Friday.

It may be mentioned that Moser Baer Photo Voltaic Limited, a wholly-owned subsidiary of Moser Baer, is in negotiations with the state government for setting up a photovoltaic manufacturing facility at the Hyderabad Fab City.

The government has already agreed to provide land and incentives for the proposed unit while the company is having further negotiations with the government on the prospects of much bigger investments besides the PV unit.

"Reddy is keen to visit the Moser Baer plant to get a first-hand knowledge regarding the industry and the company's capabilities," a senior government official told Business Standard.

According to the information, the government has offered 75-acre land at Rs 15 lakh per acre with a Rs 5 crore discount if the project come up within 12 months as proposed by the company.

The government has also offered a power subsidy of Re 1 per unit on electricity consumption by the proposed unit for a five-year period among other incentives.