Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) has allotted land to three companies within 30 days of culmination of Rising Rajasthan Global Investment Summit.
“These three companies – Indian Explosives Private Limited, Sunkind Photovoltaics Private Limited and Stanvac (Superon Group) – will collectively invest Rs 350 crore, generating jobs in the state,” said Inderjeet Singh, managing director RIICO.
He said that RIICO will provide land to all the companies, which have signed MoUs at the summit.
Among the three companies, Indian Explosives Private Limited (IEPL) is an Indian subsidiary of the Australian leading multinational mining and infrastructure service provider Orica. It will set up a plant of Rs 50 crore across 10 acres of land. RIICO has provided land near mines of Vedanta in Bhilwara district where IEPL will provide explosives and other mining related services to Vedanta group.
Another company in the greentech category – Sunkind Photovoltaics Private Limited (SPPL) will set up a plant across 10 acres land at Mathasoola Industrial Area in Jaipur with an investment of Rs 200 crore. The company promises to employ 800 people in the state. It will venture into module manufacturing, Solar-plus-storage, EV charging infrastructure, Energy efficiencies, and various solar power technologies to help country reach the target of generating 500GW renewable energy by 2030.
The third company – Stanvac (Superon Group) will set up its plant across 12.5 acres land at Salarpur Industrial Area in Bhiwadi with an investment of Rs 100 crore. The company will manufacture anti corrosion welding wires and welding electrodes employing 300 people.
The speedy land allotment to these three companies is just a testimony to the fact that RIICO is working 24X7 for realising investment commitments worth Rs 1.25 lakh crore drawn from more than 1100 companies across the globe in Rising Rajasthan summit.
“Next three months are crucial for us. We have been given mandate to realise all the MoUs by this fiscal. Our MD is monitoring the progress on a daily basis,” said a senior RIICO official, who like many other senior RIICO officials, has not taken a single day off in last three months.
Vivek Shukla is a management graduate who has worked in corporate worked for 20 years and is now pursuing his passion — news.
