Maharashtra attracts Rs 10k cr of plans
The Economic Times:August 19, 2009
Mumbai: Maharashtra has received investment commitments worth around Rs 10,605 crore under its mega project policy. The state industries department signed memoranda of understanding with eight companies on Tuesday for projects mainly in the steel, power, cement, and automobile sectors.
Maharashtra industry minister Narayan Rane said at the MoU signing ceremony that the state continues to attract investment amidst the slowdown.
Welspun Power and Steel (WPSL), part of the $2 billion Welspun Group, announced an investment of Rs 6,000 crore to set up a fully integrated steel plant through an SPV called Welspun Maxsteel. The greenfield steel plant with a capacity of 1.5 million tonnes per annum will be set up in Murud tehsil of Raigad district. The plant, where the production would start in April 2012, would employ about 5,000 people.
Bhushan Steel (BSL), which already has facilities at Nifan and Savroli in Raigad and Khopoli, has committed Rs 1,250 crore on a plant to produce large diameter ERW pipes, API pipes, and structural pipes. The plant will have a capacity to manufacture 7 lakh tonnes per annum and will be operational from April 2012. It will be set up at the existing facility of BSL at Khalapur near Khopoli. BSL director PK Aggarwal said the project would generate 550 jobs.
Pohang Iron and Steel Company (Posco), has decided to set up a galvanising plant at an investment of Rs 1,200 crore in Mangaon tehsil of Raigad district. The total investment spread over two phases has been pegged at Rs 4,400 crore, Maharashtra industry department officials said. The plant will provide employment to 160 people.
Amba River Coke (ARCL) signed an MoU for a coke oven plant in Pen tehsil of Raigad district at an investment of Rs 1,027 crore. The plant will produce 10 lakh tonnes of metallurgical coke to meet the requirement of the blast furnace of Ispat Industries. The project is a JV between Stemcor Group of the UK and Ispat Industries. Director of ACL Vineet Mehra informed that the project will generate 600 direct and indirect jobs.
The state signed an agreement with the Kolkata-based Shyam Century Cement Industries (SCCIL) for a cement manufacturing unit and a captive power plant in Chandrapur district at an investment of Rs 700 crore. The plant will manufacture 20 lakh tonnes cement per annum and provide around 825 direct and indirect jobs.
The industrially backward district of Satara has bagged a project to manufacture engine parts, engine models, light commercial and passenger vehicles, from Cooper Corporation. The company plans to invest Rs 300 crore in this project and start commercial production from February 2010. This plant will generate employment opportunities for about 2,000 people.
Vidarbha-based Rasoya Proteins entered into an MoU with the state for a solvent extraction and refinery at Vadgaon in Yavatmal district for an investment of Rs 77 crore. Managing director of the company Anil Lonkar said the investment, had bagged the status of mega project because it would generate more than 300 jobs.
A weaving plant proposed by Gimatex Industries in Wardha district of Vidarbha has also been given the status of mega project.