PG signs MoU with government of Maharashtra to invest Rs 315 crore

As part of the Magnetic Maharashtra initiative, PG Technoplast, an AC manufacturing service provider, has partnered with the Maharashtra Industrial Development Corporation (MIDC) to invest Rs 315 crore to build the state’s largest room AC manufacturing capacity. The MoU was signed in the presence of Tourism and Environment Aaditya Thackeray.

Industries Minister Subhash Desai, and Energy Minister Nitin Raut, who were accompanied by Additional Chief Secretary for Industries Baldev Singh, Additional Chief Secretary to Chief Minister Ashish Kumar Singh, and MIDC CEO Dr P Anbalagan, at the World Economic Forum’s annual meeting in Davos, Switzerland.

This project will be the country’s most vertically integrated RAC manufacturing facility, giving the region’s ESDM component ecosystem a boost. Over 1,500 people will be directly employed as a result of the project. “This move will help bring room air conditioning manufacturing to the Western region, which has traditionally been concentrated in the northern and now southern parts of the country,” said Vikas Gupta, PG Group’s MD-operations.