Mahindra World City, Jaipur, has signed up Prithvi Steels to set up a steel tube plant, the first such plant in Rajasthan. To be set up at an investment of Rs 20 crore, the expected turnover of the new plant is estimated to be over Rs 150 crore.
Mahindra World City, Jaipur, is an integrated business city, while Prithvi Steels makes steel pipes. The latter will set up the manufacturing facility on 2 acres. The new facility aims to provide employment to over 150 people. The company will establish a steel tube plant by mid-2014 and also plans to set up a strip mill in the future.
Prithvi Group already has six re-rolling plants in Rajasthan. They are one of the largest steel-makers in the State.
As developing cities have more scope for growth than metros, Mahindra World City aims to create an environment that supports large, medium and niche businesses to grow and evolve. Spread across 3,000 acres, Mahindra World City is 74 per cent owned by Group company Mahindra Lifespace Developers and 26 per cent by the Rajasthan State Industrial Development and Investment Corporation.
The city is one of the 16 projects worldwide to be part of the Clinton Climate Initiative’s effort to create green cities. Total investments into Mahindra World City have crossed Rs 1,000 crore.