Mumbai: Maharashtra government inked memorandum of understanding with three different companies on Aug 21, which will bring an investment of around Rs 833 crore and create direct employment for more than 2,000 persons. All these projects have been given mega project status under the state government''s mega project policy. These three investment proposals comprise proposal from Yash Birla group company Birla Cotsyn to expand operations of cotton ginning, pressing and spinning mill at Khamgaon and Malkapur in backward Vidarbha region. The company is hoped to infuse around Rs 315 crore in the expansion project. The expansion will increase capacity of the mill to 36,000 spindles of cotton yarn and 19,040 spindles of synthetic yarn per year.
The Pune-based Precision Automation and Robotics India Ltd (PARI), which gives solution in the field of industrial robotics and automation will infuse around Rs 258 crore at Khandala in Satara district where it will set up its design and manufacturing facility. The ISMT Ltd, a manufacturer of seamless tubes, will infuse Rs 260 crore in its expansion project at Baramati. Under the state government''s mega project policy, the projects which infuse Rs 250 crore or more in backward areas of the state or industries which invest Rs 500 crore or more in developed parts of the state like Mumbai, Pune, Nashik etc. are granted mega project status.
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