Kirloskar Oil inks MoU with Government of Maharashtra

Kirloskar Oil Engines Ltd has announced that the Government of Maharashtra under the aegis of Industries Ministry signed a Memorandum of Understanding (MoU) with the Company on March 26, 2007.

Having created the World's Largest Business of Diesel Generating Sets in 3 to 600 kVA range under the brand Kirloskar GREEN, to meet its growing demand, the Company is investing in a green field EoU plant to manufacture Silent Generating Sets for Global Customers.

To meet the growing demand from its Domestic and Global customers for engines, the Company is investing in a green field world-class engine manufacturing plant. The capacity of the plant will be stepped up in phases to 100,000 engines per year.

The Company will actively improve the skills of employees and the suppliers in the region to globally competitive standard.

The MoU was signed by Shri. V K Jairath, Secretary (Industries), Government of Maharashtra, Shri. Atul Kirloskar, Chairman and Managing Director and Shri. Rajendra R Deshpande, Executive Director of the Company, in the presence of the Hon. Industries Minister - Shri. Ashok Chavan, Chief Secretary - Dr. D K Sankaran, Government of Maharashtra and other State Officials.

Shri. Atul Kirloskar, Chairman and Managing Director, of the Company said, "We are happy with the support received from the State of Maharashtra. The investment friendly approach of the state administration and its Industry Ministry has been very encouraging. We are happy that we are able to make a contribution towards the development of the rural economy by not only making investments but also by advancing the skills in the rural area of Kagal and Kolhapur - to make its citizens competitive and employable."

Source : Equity Bulls

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