Indo Rama keen to hike investment in Butibori plant by Rs 600 crore

Nagpur, Aug 8: Polyester major Indo Rama Synthetics Ltd has shown keenness in increasing investment at its Rs 1700-crore plant in Butibori industrial estate near here by Rs 600 crore.

Speaking at a presentation function attended by Maharashtra textile minister Sayish Chaturvedi and minister of state for water supply Sulekha Kumbhare on Tuesday, company’s managing director OP Lohia said this will enable Indo Rama to enhance its
production by two lakh tonne from the current three lakh tonne.

With this five lakh tonne of synthetic fibre, the company would be having a 50 per cent share of country’s installed capacity, he said and added that due to past experience of labour problem, the company was setting up expansion plant in some other state.

But since Chaturvedi and the state government had assured them of resolving labour related problems, Indo Rama would again be interested in continuing their business in Maharashtra, he said.

Lohia said nobody is unhappy with Maharashtra and if investment is protected no company would go out of state.

Speaking on the occasion, Chaturvedi said, “We want to retain Maharashtra’s number one position as most favoured investment destination and hence the ruling Democratic Front government was trying to have a look at the labour laws.’

The state government was also planning to bring in industry-friendly labour laws to create proper atmosphere for industries to grow and ultimately benefit the labour class, Chaturvedi added.

-- PTI