The Maharashtra government, which faces stiff competition from the neighbouring state, Gujarat, to attract domestic and foreign investments, on Friday signed three MoUs for the proposed investment of Rs 6,300 crore for setting up of cement plants, steel unit and ginning and pressing project.
Reliance Cementation, a group company of the ADAG, plans to set up a 5 million tonne integrated cement plant, entailing an investment of Rs 2,250 crore, in Yavatmal district and a cement grinding unit at Butibori, in Nagpur district. Moreover, Adhunik Corporation will invest Rs 4,000 crore for the development of a 4 million tonne cement plant, an integrated steel plant of 1.1 million tonne and a captive power plant of 125 mw capacity in Chandrapur district.
The third MoU has been signed with Deegee Cotsyn, member of Narendra Group, for setting up of a ginning, pressing, spinning and weaving plant with captive power project in Amravati district. This entails an investment of Rs 122.57 crore. Three MoUs were signed in the presence of chief minister Ashok Chavan and industries minister Narayan Rane.
As far as Reliance Cementation project is concerned, the company director Anil Singhvi told reporters that the plant is expected to get commissioned by April 2012. The project is crucial for the state which has a deficit of 10 million tonne cement per year, which is met through supplies from neighbouring states. Maharashtra is expected to achieve self sufficiency with the proposed project.
Further, Adhunik Corporation managing director Mahesh Kumar Agarwal said the company will start project work after completion of the necessary clearances from the state and central governments.
In case of ginning, pressing and spinning project, Deegee Cotsyn managing director said the production of yarn has already commenced from October 2008 and it would complete the second phase by October this year.