Published On:October 9 2024
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"Hyundai Steel Pioneers ₹2,260 Crore Investment in Pune"

A consortium of nine companies led by South Korea's Hyundai Steel has announced a substantial investment in the Talegaon Dabhade industrial zone in Pune district. Hyundai Steel's project, which is currently under construction, is expected to begin operations by June next year, representing a significant advancement in the region's industrial development.

The initiative includes notable companies such as Sungwoo Hi-Tech, NVH India, PHA India, Komos Automotive, Doowon Automotive, Paracoat Products, Movemax System, and Pure All Logistics.

The consortium has secured 70 acres of land from RMK Spaces, with an official land transfer ceremony taking place on Friday. The ceremony was attended by RMK Spaces Executive Directors Ranjit Kakade and Ramdas Kakade, along with Hyundai Steel India CFO Dong Seob Lee and representatives from the partner companies.

Collectively, the companies plan to invest ₹2,260 crore, which is anticipated to create approximately 2,640 jobs in the region. The industrial projects will be developed in areas including Mangrul, Navlakha Umbre, Badalwadi, and Karanjvihire, with production expected to commence within the next six months. This influx of investment is likely to spur additional industrial development in the Talegaon Dabhade area.

HBL





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