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India's Raymond Group to invest Rs425 crore in Maharashtra
23
Feb '18
Courtesy: Raymond
Courtesy: Raymond
India’s Raymond Group recently signed agreements worth Rs 425 crore with the government of Maharashtra to set up residential and sports complexes, commercial amenities and schools in Nandgaon Peth in Amravati. As per the agreements, the state will facilitate necessary permissions, registrations, approvals, clearances and fiscal incentives.

The agreements were signed during the Magnetic Maharashtra investors summit by JK Investors (Bombay) Ltd, which owns the group. The project would commence in fiscal 2018-19, according to a news agency report.

The first agreement is for a proposed investment of Rs 50 crore to set up the school project and sport complex, while the second one is of Rs 375 crore for setting up a residential complex and commercial amenities with 2,000 houses.

The group recently inaugurated a new greenfield linen manufacturing facility in the new textile park in Nandgaon Peth under its subsidiary Raymond Luxury Cottons Ltd. (DS)

Fibre2Fashion News Desk – India


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