Craftsman Automation, RIICO ink agreement for Rajasthan plant

Automation firm Craftsman Automation has signed a memorandum of understanding with the Rajasthan State Industrial Development and Investment Corporation to establish a plant in Alwar.

The preliminary investment in the unit will be of Rs 150 crore, according to a company official on April 6.

The plant for aluminum products will be set up in Alwar’s Salarpur industrial area of Bhiwadi.

Craftsman Automation, which is based in the southern part of India, is investing Rs 150 crore in the first phase. 

It will provide products to several international and domestic brands including Tata Group and Mahindra Group, Craftsman Automation Chairman and Managing Director S Ravi told reporters.

Rajasthan State Industrial Development and Investment Corporation (RIICO) Chairman and Managing Director Ajitabh Sharma said that land has been allocated to the company for establishing the plant, with further proposals for investment in the next two phases.

The pact has been signed as part of the 'Grow with Rajasthan' campaign run by the state government, he added.

The plant will start production in Rajasthan within the upcoming six months.

(With PTI Inputs)