Hyderabad-based Goldstone Infratech Ltd has tied up with Dr. June Min, a Korean semiconductor expert, and Jusung Engineering from the same country to set up a Rs 600-crore solar panel fabrication facility in Fab City, Hyderabad.
Speaking to Projectmonitor, a Goldstone Infratech spokesperson said that a new joint venture, TF Solar Power Pvt. Ltd, would be formed in which Goldstone would hold 54 per cent equity stake. The other two partners will together hold the remaining 46 per cent. "The entire land of 50 acres is in possession and preliminary work on the project has already begun," he said. Sungdo ENG, a clean room-contractor from South Korea, has been awarded the construction contract for phase-I. Commercial production is likely to start in the first quarter of 2009. The plant will use Dr June patented 3D cell design technology.
The 52-mw facility will have two parallel assembly lines and will mainly cater to the European market. While the initial investment would be Rs 600 crore, this would rise to Rs 2,800 crore as the capacity is ramped up to 350 mw over the next four-five years. l

Contact: Goldstone Infratech Ltd, Amarchand Sharma Complex, S.D. Road, Secunderabad, Andhra Pradesh 500003. Tel: 040-27807640/6706