Russian steel firm to invest in project at Aurangabad’s Auric Cityhttps://indianexpress.com/article/cities/mumbai/russian-steel-firm-to-invest-in-project-at-aurangabads-auric-city-5852798/

Russian steel firm to invest in project at Aurangabad’s Auric City

It will invest Rs 800 crore in the first phase, followed by Rs 6,000 crore in the second phase, which will begin in 2022.

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“The NLMK is setting up units in Auric City. The project will bring in investment and also open up new avenues for employment generation,” Fadnavis said. (Source: File)

A DAY after the state government announced that Novolipetsk Steel, or NLMK, one of the largest steel companies in Russia, is likely to make an investment of Rs 800 crore in Maharashtra, Chief Minister Devendra Fadnavis on Thursday said the project will come up at Auric City in Aurangabad’s Delhi Mumbai Industrial Corridor.

The representatives NLMK on Thursday met the CM in Mumbai to discuss the project. In all, the company is set to invest Rs 6,800 crore in the project. It will invest Rs 800 crore in the first phase, followed by Rs 6,000 crore in the second phase, which will begin in 2022.

“The NLMK is setting up units in Auric City. The project will bring in investment and also open up new avenues for employment generation,” Fadnavis said.