Pune: Hyundai Steel and Eight Companies Set to Transform Talegaon Dabhade with Rs 2,260 Crore Investment

Reported by Tikam Shekhawat

Pune, 7th October 2024: In a major boost to the Talegaon Dabhade industrial area near Pune, South Korean giant Hyundai Steel and eight other companies are set to invest ₹2,260 crore, acquiring 70 acres of land for their operations.

The companies, which also include Sungwoo Hitech, NVH India, PHA India, Komos Automotive, Doowon Automotive, Paracoat Products, Movemax System Logistics etc., are expected to generate significant employment opportunities in the region.

The investment deal, facilitated by RMK Spaces Pvt. Ltd., was officially celebrated recently at the Grand Sheraton Hotel in Pune during a land ownership transfer and welcoming ceremony. The event saw the presence of Ranjit Kakade and Ramdas Kakade, executive directors of RMK Spaces, along with representatives from the investing companies.

Speaking to Punekar News on the occasion, Ranjit Kakade expressed optimism about the economic and employment benefits these investments would bring. “These companies will collectively invest ₹2,260 crore, creating employment for 2,640 people. The factories will be established in Mangrool, Navlakh Umbare, Badalwadi, and Karanjvihere areas. Actual production is expected to commence within the next six months,” he stated.

Kakade further highlighted the advantages of the Talegaon Dabhade Industrial Area, such as good road connectivity to Mumbai for international transport, ample water resources, a peaceful environment, and a supportive local workforce, which he said makes it an attractive destination for new industries.

The breakdown of investments is as follows: Hyundai Steel will invest ₹260 crore, Sangwoo Hitech ₹970 crore, NVH India ₹150 crore, PH India ₹100 crore, Comos Automotive ₹200 crore, and Duvan Automotive ₹100 crore.

RMK Spaces has been instrumental in bringing substantial investments to the region. Including the new ventures, they have facilitated a total investment of ₹6,640 crore, creating employment for over 8,640 people. Previously, 24 companies had invested ₹4,000 crore and generated 6,000 jobs in areas including Talegaon MIDC, Navlakh Umbare, Badhalwadi, and others.