The RSB Group, manufacturer of engineering and automotive components, has signed a memorandum of understanding (MoU) with the government of Orissa to set up a greenfield project in Cuttack | |
| RSB will invest Rs 365 crore to set up a state-of-the-art ferrous casting, forging and aluminum die casting unit over a span of five years. |
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| S K Behera, managing director of the group, said the casting and forging unit was expected to generate an estimated annual turnover of Rs 1,600 crore by the end of five years. ?The project will generate employment for about 2,500 people at the end of the same time frame," Behra said. |
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| "The group is looking at creating a regionally balanced customer base and has chosen Orissa because of the advantages in terms of its employment base, costs, infrastructure and geographic location." |
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| Strategically, the plant would provide a strong backward integration support. Coupled with ample export opportunities and government incentives, it would serve as a very important unit for the group, Behra added. |
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| The group's core capabilities range from design to manufacturing of aggregates and systems related to commercial vehicles, passenger cars, construction equipment, farm and off-highway equipment. |
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| The group recently acquired Miller Bros Mfg (USA) in addition to its four units in India. |
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