Mumbai, Nov. 8
Supreme Petrochem Ltd and Supreme Industries Ltd would together invest Rs 1,415 crore in Maharashtra to set up units for manufacturing plastic products.
The companies on Tuesday signed a memorandum of understanding (MoU) with the Maharashtra Government.
Of the total investment, Supreme Petrochem would invest Rs 1,115 crore over seven years for setting up a styrenics complex in Raigad district with a production capacity of 4.9 lakh tonnes. The investment plans also include a minor port and chemical terminal for handling bulk cargo.
Styrenics is thermoplastics known for its ease of processing.
Supreme Industries would also invest Rs 300 crore over the next three years for producing 1.5 lakh tonnes plastic per annum at a manufacturing plant in Jalgaon district. The two ventures would generate jobs for 2,000 people.
The companies would also tie up with local ITI units and train them as per the industrial requirements.