Bhubaneswar: India's leading engineering and automotive components RSB Group inked an MoU with the Government to set up a multi-product automobile component manufacturing project in the State. The total project cost would be Rs 365 crore and it would be implemented in a phased manner over a period of five years.
The MoU was signed in presence of Chief Minister Naveen Patnaik, Industries Minister Biswa Bhusan Harichandan, Chief Secretary Ajit Tripathy and other dignitaries. Speaking on the occasion, the Chief Minister said the auto-component complex would come up at Mania near Choudwar. The instant project is likely to generate direct employment opportunities for over 2,000 persons in the next five to seven years, he said.
Orissa Industrial Infrastructure Development Corporation (IDCO) is promoting an auto-component manufacturing complex at Mania which would not only accommodate RSB investment and their vendors, but also other automobile manufactures who may be interested in setting up manufacturing facilities in Orissa. RSB, which is a well-established tier I auto-component manufacturer, proposes to set up a multi-product auto-component complex consisting of a forging unit, casting unit, an aluminium die casting unit, a machine shop and assembling units. It has six plants in four locations in India for manufacturing of aggregates on systems related to commercial vehicles, passenger cars, construction equipments, farm and off-highway equipments catering to auto majors like Tata Motors, Telcon, Mahindra, Caterpillre, John Deere, L&T, Fiat. While from the Government's side, Industries Secretary Injeti Srinivas signed the MoU, from the company side SK Behera signed the MoU.