Automation firm Craftsman Automation and Rajasthan State Industrial Development and Investment Corporation have signed a pact to set up a plant in Alwar with an initial investment of Rs 150 crore, a company official said.

The aluminium products plant will be set up in Salarpur industrial area of Bhiwadi, Alwar.

The South India-based company is investing Rs 150 crore in the first phase. It will supply products to many international and domestic brands, including Tata Group and Mahindra Group, Craftsman Automation Chairman and Managing Director S Ravi said.

Rajasthan State Industrial Development and Investment Corporation (RIICO) Chairman and Managing Director Ajitabh Sharma said that land has been allotted to the company to set up the plant. There are further plans to invest in the next two phases.