PG Technoplast, an AC manufacturing service provider, has collaborated with Maharashtra Industrial Development Corporation (MIDC) to invest Rs 315 crore to create the state’s largest room AC manufacturing capacities as a part of the Magnetic Maharashtra initiative. The MoU was signed at the annual meeting of the World Economic Forum held at Davos, Switzerland in the presence of Minister of Tourism & Environment Aaditya Thackeray, Minister of Industries Subhash Desai and Energy Minister Nitin Raut, who were accompanied by Additional Chief Secretary for Industries Baldev Singh, Additional Chief Secretary to chief minister Ashish Kumar Singh, and the CEO of MIDC Dr P Anbalagan.
This project will be the nation’s most vertically integrated RAC manufacturing facility and will provide a thrust for the region’s ESDM components’ ecosystem. It will also create direct employment opportunities for over 1,500 people. “The move will help bring room AC manufacturing to the Western region, which historically has been concentrated in the northern, and now southern parts of the country,” said Vikas Gupta, MD-operations, PG Group.
