Saint-Gobain commits Rs 1,100 crore investment in Rajasthan; plans to add more than 300 jobs

By: |
May 28, 2021 6:03 PM

French manufacturing firm Saint-Gobain has committed a massive Rs 1,100 crore investment to the state of Rajasthan.

credit score, credit rating, debt trap, Saves money, card benefits, interest-free period, Instant credit disbursal, pre-approved loan against credit card, credit card benefits, Stock market, share market, Nifty 50, Sensex, sensex, nifty, stock market, investment portfolio, debt repayment plan, credit score, emergency fund, Tax efficiency, , personal loan, instant loan, instant loan providers, instant credit, loan apps, digital lending platform, Covid-19 pandemic, personal loan, personal loan interest rates, personal loan charges, personal loan eligibility, personal loan HDFC, personal loan SBI, loan offers, repayment capacity, credit scoreThe state government has announced various policies to attract investment.

French manufacturing firm Saint-Gobain has committed a massive Rs 1,100 crore investment to the state of Rajasthan as a part of a phased expansion plan. The proposed investment would add more than 300 direct employment opportunities in the region of Bhiwadi and Alwar, making Rajasthan the home ground for Saint-Gobain’s Asian demand of float glass. Saint-Gobain said that its proposed investment comes after the company has already invested over Rs 1,200 crore in the state since 2010, creating more than 1,100 jobs. Sain-Gobain, a French firm involved in designing, manufacturing and distributing materials and solutions for the construction, mobility, healthcare and other industrial application markets. 

“In line with our strategy for accelerated growth in India, Saint-Gobain will invest in a new Float Glass Plant in our World Glass Complex, Bhiwadi. Rajasthan is the ideal state for this investment as it has abundant availability of Raw materials, an excellent talent pool and most importantly a progressive and dynamic Government,” said B Santhanam, Chairman, Saint-Gobain Group. He added that the new investment of over Rs 1,000 crore would help the company produce advanced and value-added products for the growing construction and automotive markets in India.

Rajasthan has successfully attracted investment proposals worth Rs 1,50,000 crore over the last few years under various thrust sectors such as Green Energy, IT, Startups, Electronics, Glass Mfg, Fabric & Textile, Bathware, Earth Moving, Medical & Health, Ceramic, Mines & Minerals, among others. “Saint Gobain is a renowned industry of the world. When it is choosing the state for its second major investment, it shows its trust in the state. There cannot be better promotion of the state investment scenario than this,” said Ashok Gehlot, CM, Government of Rajasthan.

The state government has announced various policies to attract investment. Rajasthan Investment Promotion Scheme (RIPS)-2019, Rajasthan Industrial Development Policy-2019, Rajasthan Agro Processing-Agri Business and Agri Export Promotion Policy-2019 are some of the policies announced by the government. Rajasthan is the sole producer of Zinc and Lead in India, the largest producer of Marble, Limestone, and Sandstone, largest reserve for granite, potash, and Felspar, 2nd largest mineral-producing state in value. The state has a supply of Natural Gas in 18 Districts which is benefiting ceramics, Glass, and other gas-based industries.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1DGCA temporarily suspends SpiceJet’s licence to carry dangerous goods
2Logistics cos say fully geared to meet challenges during festival demand
3Samsung Galaxy A52s 5G gets cool new ‘Awesome Mint’ colour option in India; check specs, price and other details