Apple supplier Corning to set up Rs 1,000 crore Gorilla Glass facility in Tamil Nadu

Corning Inc, a major American Gorilla Glass manufacturer and a key supplier to Apple, is planning to establish a Rs 1,000 crore manufacturing plant in Tamil Nadu.

The factory will be situated in Pillaipakkam, close to Sriperumbudur, on a 25-acre piece of land, as reported by The Economic Times. The site's capacity can be expanded, and it is anticipated to employ around 300 workers.

This marks the company's entry into the Indian market.

Earlier this year, the Telangana government had initially announced the company's plans to set up a factory in the state.

However, according to ET, Corning opted for Tamil Nadu over Telangana due to its proximity to other Apple suppliers like Foxconn and Pegatron.

Corning will collaborate with its Indian partner Optiemus Infracom for this facility.

Corning holds a unique and dominant position with a monopoly in the gorilla glass market.

The agreement is anticipated to be formalized during the Global Investor Meet (GIM) in January, although the specific timing remains unspecified.

The plant is projected to commence operations in 2024, initially producing 30 million pieces. The Indian facility will manage the processing of cover glasses for both front and back panels of smartphones.

To support the joint venture, assistance has been sought from the central government.

An application has been submitted for incentives under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).

This scheme provides a 25% financial incentive on capital expenditure for specific electronic goods in the downstream value chain of electronic products, as reported by Business Standard.