Ashok Leyland to double investment in Uttaranchal
28 Feb 2008
BS reported that Ashok Leyland has decided to double investment in Uttaranchal from the INR 1,000 crore to INR 2,000 crore as a part of its expansion plan.
Ashok Leyland is likely to buy another 17 acres at Pant Nagar for a manufacturing facility at an investment of INR 1,000 crore. It has already bought 175 acres at Pant Nagar for manufacturing commercial vehicles and engine parts. It has also promised to provide employment to 2,200 persons, mostly locals.
Many auto manufacturers are setting up new facilities in Uttarakhand to avail of tax benefits announced by the centre in 2003.
1. Hero Honda – INR 1,200 crore plant in Haridwar
2. TATA Motors – INR 1,859 crore in Pantnagar
3. Bajaj Auto – INR 500 to INR 600 crore at Pantnagar
News Source: http://steelguru.com
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