Leyland to Invest Rs. 11 Bn for a Plant in Uttaranchal
30 Oct 2006
Commercial vehicles major, Ashok Leyland, decided to set up a plant in Pantnagar area of Uttaranchal hill state on a 175-acre plot with an investment of around Rs. 11 billion. Uttaranchal government offers excise and income tax breaks to investors.
The decks have been cleared and the company would be handed over the land shortly, the sources said. The company intends to manufacture commercial vehicles at the plant and the actual rollout could take about 1-2 years, the company noted.
Apart from Ashok Leyland, other automobile companies that have set up units in the state include Tata Motors, Mahindra and Mahindra, Bajaj Auto and Hero Honda. Ashok Leyland currently has six manufacturing plants – the mother plant being at Ennore near Chennai, three plants at Hosur and assembly plants at Alwar and Bhandara. The total covered space at these six plants exceeds 4,50,000 sq.m and they together employ over 11,500 personnel.
News Source: http://www.tradingmarkets.com
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