Lanco Infratech (LITL), one of India's leading business conglomerate having businesses in the domains of Engineering, Procurement and Construction (EPC), power, solar, natural resources and infrastructure today announced its subsidiary Lanco Solar Private signed a landmark agreement with Chhattisgarh Government to bring Chhattisgarh on the global silicon map. 

As per the MoU inked today with the Chhattisgarh Government, Lanco Solar will set up 100 MW solar cell manufacturing plant.

For the integrated solar PV manufacturing project which re-started in July 2015, LITL has already done an investment of Rs 12 billion to manufacture Poly-Silicon Refining and Wafer Plant and 150 MW module plant.

The project is being set up at a 250 acre SEZ location in Rajnandgaon, Chhattisgarh under the National Solar Mission objective of achieving domestic PV cell production of 2200 MW/year and the Make in India Programme of the Government of India.

L Madhusudhan Rao, executive chairman, Lanco Infratech said, "Solar power in India has a promising future. We feel that the location of the plant is ideal as it is centrally located for entire Indian market. We are elated to be part of the MOU as this will be a showcase project being the first poly silicon and Ingots & Wafers manufacturing facility coming up in India which will be bringing the state of Chhattisgarh on global Silicon map. At the same time it plays anchor Industry role to attract investments in other solar PV manufacturing units within this plug and play SEZ zone."

''In view of the Make in India initiative, ambitious Solar development plans and the employment generation potential of this venture, State of Chhattisgarh and Lanco have decided to jointly invite companies for setting up Solar PV manufacturing facilities in this SEZ,'' added Rao".

Shares of the company gained Rs 0.34, or 6.81%, to settle at Rs 5.33 at the BSE on Monday.