India's leading consumer durables maker Videocon Group on Monday said it is considering setting up a Rs 1,000 crore (Rs 10 billion) manufacturing unit in Dubai.
"We have been invited by the Prime Minister of UAE, H H Shaikh Mohammed Bin Rashid Al Makhtoum to set up a unit in Dubai. We will be going there next week to discuss details," Venugopal Dhoot, chairman, Videocon said.
Dhoot said the Prime minister had offered the state's participation in the project, which is estimated to cost around Rs 1,000 crore (Rs 10 billion).
"They have offered us incentives, including financial subsidy and asked us to even make LCD panels there. How much will be their participation (in the project) and other details will be worked out," he added.
Videocon already has has a unit in Oman and it has been on an aggressive global expansion mode in recent years.
The company has been trying to acquire ailing Korean electronics firm Daewoo, while it had acquired the global picture tube business of Thompson and the Indian subsidiary of Sweden's AB Electrolux in 2005.
