Indo Asian Fusegear sets up its unit at Hardwar

Hardwar, Jul 1 (UNI) The seventh unit of the Indo Asian Fusegear Ltd (IAFL) set up with an initial investment of Rs 25 crores was today inaugurated here by state Chief Minister ND Tiwari.

''The industry friendly policies of the state had made it as a great destination for the leading national and multinational companies,'' Mr Tiwari said.

More than 1,100 industrial companies were in the process of setting up their units in the state, which will not only usher in an era of progress and prosperity, but will also generate employment for thousands of local youths, he added.

Chairman and Managing Director of the company VP Mahendru said that the unit would have the capacity of producing electrical equipments worth more than Rs 90 crores per year.

Two more units of the company would be set up in the state, he added.

UNI XC DKS HT1805