Moser Baer India, a global technology major, has signed up a memorandum of understanding (MoU) with the Tamil Nadu government to establish a photo voltaic and nano technology plant at Oragadum, near Chennai.

The plant, to be set up with a total investment of Rs 20 billion, will come up in the Small Industries Promotion Corp of Tamil Nadu (Sipcot) industrial estate.

Moser Baer, recently, announced the launch of its 600 VA UPS in the market. The IT peripherals sector of Moser Baer has been in the market from 2007 and has introduced various products like USB Drives, Memory cards, DVD writers, Headphones, Mouse, Keyboards, etc. The UPS is being launched by Moser Baer through its national distributor - Ingram Micro India.

Moser Baer India Limited is the world’s second biggest maker of Optical Storage media. Recently, the company has transformed itself into a multi-technology organisation, diversifying into exciting areas of Solar Energy, Entertainment and IT Peripherals & Consumer Electronics.

At 12:40 pm, shares of the company declined 2.3%, to trade at Rs 152.80 on the Bombay Stock Exchange (BSE).