Mahindra Lifespace Developers’ JV inks agreement with Prithvi Steels

07 Feb 2013

Mahindra World City (MWC), Jaipur, has inked an agreement with Prithvi Steels, an authorized Category-I manufacturer of steel pipes, to set up a manufacturing facility in 2 acres within domestic tariff area of Mahindra World City, Jaipur. Prithvi Group already has 6 re-rolling plants in Rajasthan. They are one of the largest Steel manufacturers of Rajasthan.

The new facility will be started with an investment of Rs 20 crore and will provide employment to over 150 people. The company will establish a steel tube plant in Mahindra World City, Jaipur by the mid of year 2014 and also plans to set up a strip mill in future. This will be the first such plant in Rajasthan. The expected turnover of the new plant is estimated to be over Rs 150 crore

MWC is a 74:26 joint venture (JV) between Mahindra Lifespace Developers, the real estate and infrastructure development arm of the $15.4 billion Mahindra Group, and the Rajasthan State Industrial Development and Investment Corporation (RIICO, an agency of the Government of Rajasthan). Spread across 3,000 acres, MWC provides corporates a world-class platform and the necessary support to expand their businesses to compete globally.

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