India News | Craftsman Automation, RIICO Sign Pact to Set Up Plant in Rajasthan

Jaipur, Apr 6 (PTI) Automation firm Craftsman Automation and Rajasthan State Industrial Development and Investment Corporation have signed a pact to set up a plant in Alwar with an initial investment of Rs 150 crore, a company official said on Saturday.

The aluminium products plant will be set up in Salarpur industrial area of Bhiwadi, Alwar.

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The South India-based company is investing Rs 150 crore in the first phase. It will supply products to many international and domestic brands, including Tata Group and Mahindra Group, Craftsman Automation Chairman and Managing Director S Ravi told reporters.

Rajasthan State Industrial Development and Investment Corporation (RIICO) Chairman and Managing Director Ajitabh Sharma said that land has been allotted to the company to set up the plant. There are further plans to invest in the next two phases.

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He said that a memorandum of understanding has been signed under the 'Grow with Rajasthan' campaign run by the state government.

The plant will begin production in Rajasthan within the next six months.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)