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Russian steel firm to invest Rs 800 crore in state: Maharashtra government

Officials from the industries department said senior officials of the company met Industries Minister Subhash Desai and discussed proposed projects.

By: Express News Service | Mumbai |
Updated: July 25, 2019 3:50:07 am
maharashtra, maharashtra government, russian steel company, novolipetsk steel, nlmk, investment, aurangabad, maharashtra news, indian express news The NLMK is known for manufacturing electric steel, an official said. (Representational Image)

THE STATE government on Wednesday said Novolipetsk Steel, or NLMK, one of the largest steel companies in Russia, is likely to make an investment of Rs 800 crore in Maharashtra.

Officials from the industries department said senior officials of the company met Industries Minister Subhash Desai and discussed proposed projects. The NLMK is known for manufacturing electric steel, an official said.

The official said the company had visited Shnedra and Bidkin in Aurangabad’s Delhi-Mumbai Industrial Corridor as part of scouting for suitable plots for their project.

“The project will come up in Aurangabad Industrial City. The company officials have made constant efforts for the past two years and have visited Aurangabad thrice so far and had discussions with the concerned department,” an official said.

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The official added that in the first phase, the company is expected to make an investment of Rs 800 crore, followed by Rs 6,000 crore in the second phase.

“The investment will lead to employment and we will provide full cooperation in setting up the project,” Desai said.

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First published on: 25-07-2019 at 03:46:44 am

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