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Videocon to foray into power sector Electronics and home appliances major, Videocon Industries is planning to diversify into power generation. Disclosing the company's plans here on Sunday, chairman Venugopal Dhoot said the company has decided to make Uttar Pradesh the launching pad for its efforts in this direction. The company has identified a place between Varanasi and Mirzapur to set up a 1000-mw thermal power station at an investment of Rs 4,000 crore. “The company has already given its proposal to the state government regarding this and the state government, too, has also given its sanction in principle,” Dhoot said. When asked about the power scarcity that has always been the bane of industrialisation in Uttar Pradesh, Dhoot said power scarcity is present everywhere, but the redeeming fact is that the state government has started taking rectifying measures to address it. Apart from this, Videocon is also planning to set up a Rs 1,000 crore high technology PV manufacturing plant near Varanasi, which will employ around 1,500 people. In this context, Dhoot revealed that the company is coming up with the first solar SEZ plant in the country, which it plans to set up in Uttar Pradesh.