MEGA PROJECT MOU SIGNED BY M/S BEDMUTHA INDUSTRIES LTD. WITH GOVT. OF MAHARASHTRA

Maharashtra Government entered into a memorandum of understanding with 12 companies which will bring in an investment of Rs. 3,822 crores and provide direct employment to more than 4,200 persons in the state. Mr. Vijay K. Vedmutha, the Managing Director of M/S BEDMUTHA INDUSTRIES LTD. has signed the MOU on 31st MAY 2010 for the manufacturing of LRPC wires, Spring steel wires, GI wires and SS wires. The cost of investment is estimated to be Rs.152.90 crores. Chief Minister Shri. Ashok Chavan assured full support to the industries and mentioned that the companies will get 100 percent rebate on VAT for 7 years from the date of operation. The companies will also get other sops that are part of the MEGA PROJECT policy of the Government of Maharashtra.

Mr. Vijay K. Vedmutha, Managing Director, signing the MOU with Shri Azeez Khan, the Principal Secretary (Industries),
Govt. of Maharashtra.