It’s reported that Taiwan-based Company NuLight intends to invest $200 million (around Rs 900 crore) to build a LED manufacturing unit which dedicates to manufacture LED street lamps and household bulbs.

According to a statement from S S Lin, chairman of NuLight Corporation, at a press meet held on the occasion of 'Invest Bhubaneswar-Orissa Symposium', “Initially, we will invest $10 million and later scale it up to $900 million on the LED manufacturing unit in the state. Orissa as well as India has a vast market for LED street lamps and household bulbs. It will be cost-effective and energy-efficient”.

In addition, the company also plans to set up an Research and Development centre on LED systems. Lin claimed that LED lighting systems can bring down power consumption by 70-80 per cent.

Moreover, Daniel Lin, director, NuLight Corporation disclosed, “We also have plans to build a green township in the state but details have not been finalized.”