Ashok Leyland to set up Rs1,100 crore plant
Hinduja group company Ashok Leyland will set up a new production
facility in Uttaranchal at an investment of around Rs1,100 crore.
The commercial vehicles major have identified a 175-acre area in the
Pantnagar area of the hill state for setting up the plant.
The company proposes to manufacture commercial vehicles at the plant
but the actual rollout could take about 1-2 years, sources said.
The state government has cleared the proposal and will soon hand
over land to the company. The state also offers excise and income
tax breaks to investors.
This has also attracted other auto majors like Tata Motors, Mahindra
and Mahindra, Bajaj Auto and Hero Honda who have set up bases in the
state.
The Ennore, Chennai-based Ashok Leyland currently has five other
manufacturing facilities - three plants at Hosur and assembly plants
at Alwar and Bhandara. These together employ around 11,500
personnel.
Apart from this, the company is tapping the overseas markets as
well. Earlier this month, the company announced plans to set up a $5
million bus assembly unit at Ras Al Khamiah in the UAE that will be
gradually upgraded to a vehicle assembly plant for trucks and buses.
Source: domain-b.com
30/11/2006
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