State inks five MoUs for Rs 6,000-cr projects

The Maharashtra government has signed five memoranda of understanding (MoUs) worth Rs 6,120 crore to attract investment in sectors like mining, steel, iron, textiles and alumina.

The MoUs were signed today by state Industry Secretary AM Khan at a function here, also attended by Chief Minister Ashok Chavan.

The largest of the five MoUs was inked with the Gujarat-based Ashapura group, which exports bauxite and other minerals, for setting up an alumina complex and a 330-Mw captive power plant at Rajapur in Ratnagiri district, at an estimated investment of Rs 4,200 crore. The alumina complex will consist of 500,000 tonnes of alumina refinery and 150,000 tonnes of aluminium smelter. The projects would ensure direct and indirect employment to 3,000 people.

Among other companies which signed the pact are Uttam Galva Metalics Ltd, the Topworth Group, Abhishek Corporation and Gopani Iron and Power.

Uttam Galva will set up a steel plant with an annual capacity of 500,000 tonnes in Wardha district, a part of the backward Vidarbha region. The project, to come up with an investment of Rs 1,096 crore, will provide direct employment to around 400 people. Besides it will also have a captive power plant of 17 Mw.

Topworth Pipes and Tubes Pvt Ltd will produce 300,000 tonnes of steel saw pipes and 75,000 tonnes of ERW pipes from its plant in Raigad district. The total investment in the project will be Rs 459 crore that will help create about 375 jobs.

Abhishek Corporation will set up a yarn-dyed shirting fabric project with an investment of Rs 217 crore in Kolhapur district, creating jobs for around 700 people. The project will produce 21.6 million metres of fabric per annum.

Gopani Iron will invest Rs 117 crore to set up a sponge iron plant in Chandrapur district, also in the Vidarbha region. The plant will have a capacity to produce 75,000 tonnes of sponge iron and a captive power plant of 15 Mw.

Good news for IT, BT

Maharashtra Chief Minister Ashok Chavan on Tuesday announced to come out with the state’s new IT policy in the next few days before dates for elections are announced and a model code of conduct is put in place.

Chavan was speaking at a function organised to sign five MoUs with as many companies who will invest over Rs 6,000 crore in the state.

He further said that the state government’s last IT policy, which was announced five years back, was a huge success and helped the state attract maximum investment in the sector. The CM also said that biotech companies will be allowed double the existing floor space index (FSI).

The move will allow extra construction space. FSI is an indcator of maximum amount of construction allowed on a particular plot of land or in a zone.