Co proposes to invest ₹24cr in Pithampur

Indore: A polymer company has proposed to invest Rs 2 crore in Ujjain for setting up a manufacturing unit while another investment of Rs 24 crore has come in Pithampur.
Madhya Pradesh Industrial Development Corporation (MPIDC) has issued letter of Intents to both the companies to set up industries.
According to MPIDC, Perpetuity Build Tech has proposed an investment of Rs 24 crore to set up an industry in Pithampur while Mahadev Polymers coming up in Tajpur village in Ujjain will put in Rs 2 crore.
Both the industries together have proposed to generate employment for nearly 200 people in the region.
Another industry, Mangla Industries has taken up land in Ratlam and has proposed to invest Rs 1.25 crore.
An official from MPIDC wishing anonymity said, “The LOIs have been issued to all the three companies in past over a fortnight. Around 11 LOI’s have been issued to industries in January while 7 were issued so far in February.”
A few companies that have visited industrial areas around Indore are also expected to take up land, said officials.
Textile and garment industries have shown willingness to set up industries near Ujjain, said officials.
To facilitate small scale industries, Micro, Small and Medium Enterprises (MSME) is also adding up land banks and developing clusters.
A plastic cluster is proposed for Ujjain by MSME. The District Industries and Trade Center at Ujjain is building a land bank and has sent a proposal to add 100 hectare in the region. The department already has a bank of around 100 hectare in the region. TNN