State signs MoUs with 12 firms

01 Jul 2010 CW Team

The Maharashtra Government has signed MoUs with 12 firms which will invest about Rs 3,822 crore and provide direct employment to more than 4,000 people in the state. The companies will spread their investments over a period of three-four years and will get a 100 per cent rebate on VAT for seven years from the date of operation. The companies will also be entitled to other sops that are part of the mega-project policy of the state.

Some of the big investments include ACC’s Rs 1,500 crore cement plant at Ghughus in Chandrapur district with an annual production capacity of 3 mn tonne. Asian Paints will pump in Rs 735 crore for the manufacture of paints and intermediates at Maharashtra Industrial Development Corporation (MIDC) estate at Kesurdi near Satara district. The plant is expected to have a capacity of 4 lakh tonne and will be a zero effluent discharge plant. Besides, Shree Virangana Steel will infuse Rs 575 crore to set up a rolling mill, melting shop and expand its current operat-ions at Umred near Nagpur. Polygenta Technologies, which recycles PET bottles, will invest Rs 270 crore to set up a unit at Dindori near Nashik which will convert bottles into polyester yarn.

Contact: Government of Maharashtra. Website: www.maharashtra.gov.in