Reckitt Benckiser and Shreenath to invest Rs 750 crore in Auric

Aurangabad, June 16:

Companies including Reckitt Benckiser and Shreenath, a company from the packaging industry, will invest a total of Rs 750 crore in the Shendra phase of the Delhi-Mumbai Industrial Corridor (DMIC). Talks with an e-vehicle company are in the final stage, said MIDC chief executive officer P Anbalagan.

Anbalagan said, Reckitt Benckiser has been allotted a fresh incentive letter. The incentive period of this company has been increased to nine years from seven years as it is going to invest roughly Rs 500 crore in Shendra phase and the extension of incentive is sanctioned by the cabinet sub-committee. Similarly, Shreenath, a company from the packaging industry, is investing around Rs 250 crore in Shendra. The discussion on starting an e-vehicle company in Aurangabad is in its final stages. The company has the capacity to become an anchor project for the DMIC. Many companies from all over the world are ready to invest in Maharashtra. Last year, MoUs were signed with 52 companies. Space has been made available to 36 companies. It is expected to attract investment of around Rs 1.12 lakh crore. Green energy, petrochemical, ethanol, e-vehicle and electronics companies are ready to invest in Auric. Space will also be available in Bidkin Auric City for small entrepreneurs. Apart from this, efforts are underway to bring electronic clusters in the state, he said.

Agreements of Rs 20,000 crore

Efforts are underway to increase private investment in the industrial sector to get the state's economy back on track after the lockdown. An agreement worth Rs 20,000 crore will be signed soon in the presence of chief minister Uddhav Thackeray, said Anbalgan.