India: Maker of Gorilla glass, Corning ties up with domestic firm to invest $125mn

In a move aimed at establishing a facility to make the toughened glass that's used in smartphone displays and electronic gadgets, 

American firm Corning International Corporation and Indian firm Optiemus Infracom have signed a Memorandum of Understanding (MoU) with the Tamil Nadu government.

The firms intend to set up a joint entity known as Big Tech (Bharat Innovation Glass Technologies Private Limited), near the state's capital city of Chennai.

American firm Corning is popularly known as the maker of Gorilla Glass, a brand of toughened glass that is used by leading smartphone makers to make displays durable and scratch-resistant. 

According to the Tamil Nadu government, the MoU has been inked for a proposed investment of $125 million or Rs 1003 crores, and this facility has the potential to create 840 jobs.

The investment was inked on Tuesday, between the Tamil Nadu Government's Investment promotion arm 'Guidance' and the Indo-American joint venture firm 'BIG TECH'.

Tamil Nadu Chief Minister MK Stalin, Industries Minister Dr TRB Rajaa, top officials from the Government, and the leadership of the investing entity 

took part in the MoU exchange ceremony at the State Secretariat. 

Tamil Nadu Chief Minister @mkstalin being gifted a portrait of his, that appears to be shielded by Gorilla Glass, the kind of toughened glass that protects phone screen

🇺🇸Corning & 🇮🇳Optiemus to invest near #chennai #TamilNadu in a joint venture firm Big Tech #india #tech https://t.co/YDh6Lehs9h pic.twitter.com/CTJFRzw0hm

One among the Fortune 500 firms, US-headquartered Corning International makes the Gorilla Glass brand of toughened glass that finds use in smartphones, 

tablet computers, and other electronic gadgets.

Gorilla glass is said to be used in more than 8 billion smartphones. Indian firm Optiemus Infracom operates facilities that assemble smartphones and manufacture tempered glass units.

They are involved in multi-domain experience including management, distribution and marketing of mobile, and telecom products in the Indian subcontinent. 

Once operational, the BIG TECH facility near Chennai, would produce front-cover glass for smartphones and supply them to glass panel makers and smartphone assembly firms.

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According to the Tamil Nadu Government, the products that would roll out of this facility would be the first of its kind in India to be made using Precision glass processing technology.

Notably, Tamil Nadu had inked investment MoUs worth more than Rs 6.6 lakh crore or $83bn USD, in the Global Investors Meet that was concluded earlier this month.