Goldstone Infratech Limited, a part of Goldstone Group has informed that the Company is entering into a major Joint Venture with Dr. June Min, the founder of TF SolarPower Pvt. Ltd and Jusung Engineering Ltd., an equipment supplier in Korea to set up solar panel fab in the FAB CITY, Hyderabad.

Goldstone Infratech, will hold a 54 per cent stake in the venture, and Dr. Min and Jusung Engineering will hold 46 per cent.

Secundrabad-based, Goldstone Infratech, Ltd. engages in the manufacture and supply of heat shrinkable telecom cable closures and other telecom accessories in India. It offers composite insulators to the power utility companies and Indian railways.

The company also provides business process outsourcing services, which include multimedia-based contact center providing in-bound and out-bound call center and back office supporting processes.

While, Dr. June Min is a pioneer in the setting up of foundry semiconductor fabs for fabless companies in USA, China and Korea, and Jusung Engineering has been a leader of supplying process equipment for semiconductor, LCD and now solar panel.

TF SolarPower and its partners will be setting up a production unit to manufacture thin-film photovoltaic panels.

The initial fab capacity will be 52MWp with an investment of Rs 600 crores for the first fab of the project. The plant will have a capacity to produce 350MWp in phase I and the total project cost is estimated at Rs 2,800 crores within 4 to 5 years.