Mahindra World City, Jaipur, has signed up Prithvi Steels to set up a steel tube plant, the first such plant, in Rajasthan. To be set up at an investment of Rs 20 crore, the turnover of the new plant is estimated to be over Rs 150 crore.
Mahindra World City, Jaipur, is an integrated business city, while Prithvi Steels is a manufacturer of steel pipes. The latter is to set up the manufacturing facility on 2 acres.
The new facility would start with an investment of Rs 20 crore and aims to provide employment to over 150 people. The company will establish a steel tube plant by mid-2014, and also plans to set up a strip mill in the future.
Prithvi Group already has six re-rolling plants in Rajasthan. They are one of the largest steel manufacturers of Rajasthan.
With India’s growth trajectory lying more in the developing cities rather than the metros, Mahindra World City aims to create an environment that supports large, medium and niche businesses to grow and evolve.
Spread across 3,000 acres, Mahindra World City is a 74:26 joint venture between Mahindra group company Mahindra Lifespace Developers and the Rajasthan State Industrial Development and Investment Corporation, an agency of the Rajasthan Government.
The city is one of the 16 projects worldwide to be part of the Clinton Climate Initiative’s effort to create climate positive cities. Total investments into Mahindra World City have crossed Rs 1,000 crore.