The Hindu Business Line : 5 cos to invest Rs 6,520 cr in Maharashtra

In spite of the general economic slowdown, Maharashtra continues to attract big ticket investments. On Tuesday, the State Government will enter into a memorandum of understanding with five companies for investments totalling Rs 6,520 crore.

Sources in the State Government said all the investments are greenfield and would generate employment for about 2,500 people.

Uttam Galva Metallics Ltd will set up a plant in Wardha, Gopani Iron & Power (India) Pvt in Chandrapur, Topworth Pipes and Tubes Pvt Ltd will set up saw pipes facility in Raigad, Abhishek Corporation Ltd in Kolhapur and Ashapura Minechem Ltd will set up an aluminium plant in Ratnagiri.

Mining major Ashapura will invest Rs 4,200 crore in the aluminium refinery and smelter complex at Rajapur in Ratnagiri district. The land requirement for the project is about 1,500 acres, which includes 100 acres for a dumping ground. The ground can hold waste for next 50 years.

Since June 2005, the State has attracted an investment of Rs 147,919 crore, which will generate employment for 322,019 people. In total, 118 large projects have been approved by the Government.

By the end of 2008, about 62 industrial units signed the MoUs for investment totalling Rs 50,807 crore with employment potential for 129,683 persons. About 18 units have gone into production, 57 units are under construction and 14 units are having land in possession.

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