A
Rs.500 crore Micromax manufacturing plant is all set to come up in
Rajashtan’s Alwar district following the signing of an MoU between the
state government and Bhagwati Products Ltd.
Spread
across 25 acres, it would be the second manufacturing plant in the
country by Bhagwati Products Ltd. for production of mobile handsets, LED
TVs, LED Lights etc. for Micromax Brand. It will be set up at Karoli
near Bhiwadi town, about 200 km from here.
The
memorandum of understanding (MoU) for the plant was signed by Rajesh
Agarwal, chairman of Bhagwati Products Ltd. and co-founder of the
Micromax Informatics Ltd., and Veenu Gupta, principal secretary
industries, Rajasthan and managing director, Rajasthan State Industrial
Development and Investment Corporation (RIICO) Ltd.
C.S. Rajan, Rajasthan chief secretary and RIICO chairman, was also present on this occasion.
“The
company plans to invest Rs.500 crore in the project initially and it is
expected to provide direct employment to 5,000 persons,” an official
release said.
As
per the MoU, RIICO will support Bhagwati Products Ltd. in establishing
the facility in a time-bound manner and facilitate the necessary
infrastructure, ecosystem and incentives under various schemes announced
by the state and central governments.
Rajan
said the government “strongly believes in the prime minister’s vision
of Make in India and has always encouraged companies to establish their
factories and R&D centres in the state”.
“The
state will reap benefits of this initiative not only for the overall
economic developments but will also help in skilling the youth and
creating enormous job opportunities in the region,” he added.
On
the occasion, Agarwal said: “Rajasthan is one of the most important
states and the Karoli manufacturing unit will further enhance our
manufacturing operations in the country.
Posted by : Gizmeon
No comments:
Post a Comment