Craftsman Automation, RIICO ink agreement for Rajasthan plant

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

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

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

Craftsman Automation, which is based in sourn part of India, is investing Rs 150 crore in 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 company for establishing plant, with furr proposals for investment in next two phases.

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

plant will start production in Rajasthan within upcoming six months.

(With PTI Inputs)