Really a good news.. People of UK as well as Govt both will be benefited..
Bajaj plans Rs 1,600-cr facility in Uttarakhand
New Delhi, Aug 1 Even as it weighs its options in the four-wheeler segment—including a partnership for a low-cost car with Renault—Bajaj Auto is pressing ahead with plans for a Rs 1,600-crore plant in Uttarakhand to take advantage of the state’s tax breaks.
According to sources, the company has submitted a proposal to the Uttarakhand government and sought land for a second plant in the hill state, where it already has a two-wheeler plant. “Bajaj Auto is looking for another greenfield plant to manufacture four- and three-wheelers in Uttarakhand that could see total investments of Rs 1,600 crore,” a source told FE.
Uttarakhand, which offers income-tax and excise breaks to investors as part of a Central scheme, has become a mini-hub of sorts for automobile companies. Tata Motors, Mahindra & Mahindra, Hero Honda and Bajaj have already invested in the state, which in turn has resulted in the creation of a growing vendor base.
Bajaj currently has a 1-million capacity bike plant at Pantnagar in Uttarakhand, and has sought a 400-acre tract for its proposed plant, where it not only plans to have its manufacturing facility, but also a residential colony for employees and workers. It may also seek land to house ancillaries.
When contacted, a senior company official confirmed that Bajaj Auto was scouting for a suitable location for its commercial vehicle plant, including in Uttarakhand. “All options are open. Today, every state government is vying with each other for big projects,” the official said.
But state government officials said the company was unlikely to get 400 acres due to the shortage of land and may have to settle for around 100 acres.
