Land allotment is underway for Solar Diamond Tools' all types of cutting Tools unit at the Additional Ambernath Industrial Area in the Thane district of Maharashtra.
The proposed unit will cover over 1.85 acres of land and create employment for 234 individuals.
The company will bring in Rs 23.56 crore for the project through a bank loan, and the balance Rs 35.34 crore will be met through internal accruals.
As per the updates available with Projects Today, Solar Diamond Tools is yet to finalise the architect and machinery supplier for the project.