Craftsman Automation, an Indian company specialised in diversified casting solution of highly complex lightweight aluminium components for the automotive & industrial engineering sectors, has reportedly signed an agreement with Rajasthan State Industrial Development and Investment Corporation (RIICO) to set up a plant in Alwar city of Rajasthan.
The news came on Monday, April 8, after they announced about the signing of project agreement. As per the report, the initial investment for the plant would be INR 150 crore.
The South India-based company will invest this amount for developing the first phase of the project, which will come up in Salarpur industrial area of Bhiwadi, Rajasthan. This location is extremely strategic for its proximity to major cities like Delhi and Gurgaon. The industrial plots in Salarpur, Bhiwadi, are extremely well-planned and organised, equipped with modern infrastructure, including reliable power supply, water availability, and efficient waste management systems.
Craftsman Automation will produce aluminium products for international as well as domestic automobile companies, including Tata Group and Mahindra Group, said Craftsman Automation chairman and managing director S Ravi in an official statement.
Ajitabh Sharma, principal secretary, Industries, and chairman, RIICO said, “We welcome Craftsman Automation Ltd and will support the company with Rajasthan’s investment promotion schemes, financing, incentive schemes and all eligible benefits as applicable.”
He added, “Rajasthan is an investor friendly state. We are happy to extend all the help and support to Craftsman for their new dimension of growth in Rajasthan.”
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