Prithvi Steels, which makes steel pipes, agreed to set up a steel tube manufacturing facility on 2 acre land in Rajasthan for Mahindra World City, Jaipur.
Prithvi Steels would set up the plant at a cost of Rs 20 crore. Mahindra World City, which is an integrated business city, expects the plant to be ready by mid-2014 and also plans to set up a strip mill in the future.
It expects a turnover of over Rs 150 crore from the plant. The new facility aims to provide employment to over 150 people.
Prithvi Group already has six re-rolling plants in Rajasthan. They are one of the largest steel-makers in the state.
As developing cities have more scope for growth than metros, Mahindra World City aims to create an environment that supports large, medium and niche businesses to grow and evolve.
Spread across 3,000 acre, Mahindra World City is 74 per cent owned by Group company Mahindra Lifespace Developers and 26 per cent by the Rajasthan State Industrial Development and Investment Corporation.