NRI billionaire Anil Agarwal has announced that his firm Twinstar Display Technologies will set up India’s first LCD manufacturing facility. The firm will sign a memorandum of understanding (MoU) with the Maharashtra government to set up the facility. The pact will be inked as part of the Make in India week, which commenced in Mumbai.

This new manufacturing facility will certainly add to the economy and hopefully be a lucrative avenue to go down. It is important to make sure that everything is set up properly and all machinery and equipment are installed before workers can begin. There will be many things to look into, including what the best layout will be as well as what the 5 Advantages of a Custom Scissor Lift will bring to this area of manufacturing. This will be an ongoing project that will be followed as time goes on.

In July last year, the Agarwal-led firm had announced an investment of Rs 40,000 crore to set up an LCD panel plant in the country, generating about 50,000 jobs. Twinstar Display will invest $10 billion in five phases and is expected to begin production by 2018, with full capacity over the next 10 years.

The plant will be set up in Pune or Nagpur. Although Twinstar Display is an independent company, it is being monitored by Vedanta’s technology arm, Sterlite Technologies, till the time a full-fledged team takes over in the new company. The final structure of the company will be decided at a later date.

The project is being set up under Maharashtra’s new policy on fabrication units that aims to boost domestic manufacturing of electronics and reduce import bills.