Craftsman Automation, an automation firm, announced on Saturday, April 6, that it has signed a pact with the Rajasthan State Industrial Development and Investment Corporation (RIICO) to establish a plant in Alwar. The company will invest an estimated initial capital of INR 150 Crore for this project.
The company will establish the upcoming aluminium products plant in the Salarpur industrial area of Bhiwadi, Alwar. The project will progress in phases, with Phase I entailing an investment of INR 150 Crore. RIICO has allotted land for this project, which is being developed under the ‘Grow with Rajasthan‘ campaign run by the state government.
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Moreover, Ajitabh Sharma, Chairman and Managing Director of RIICO, stated that there are further plans to invest in the next two phases. The plant will commence production in Rajasthan within the next six months.
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