Mahindra Group has proposed to establish a project worth Rs. 3,000 crore in Uttarakhand.

Dehraduun, April 26:

Chief Minister Bahuguna's efforts in the direction of encouraging investment in industrial sector, has started yielding results. Mahindra Group has proposed to establish a project worth Rs. 3,000 crore. President of Mahindra Group and Managing Director Pawan Goenka and his associates called on Chief Minister Vijay Bahuguna at CM Residence this evening.

Mr. Bahuguna and Mr. Goenka discussed about various possibilities of investments in industrial sector in the state. Mr. Bahuguna assured Mr. Goenka to seriously consider the proposal and extend all possible assistance. He said that the state government would try to provide land to Mahindra Group at Sitargunj for the proposed plant. Mr. Bahuguna said that state government was looking forward to increase investment in industrial sector in the state and would provide all possible help to the investors. He pointed out that Uttarakhand was a peaceful state and had industry-friendly environment. He said that the state had great potential in sectors like tourism, medicines and information technology. Stating that the industry houses ought to consider investing in these sectors too, he said that the industries should also carry out their social responsibilities along with industrial activities. Chief Minister Bahuguna said that the state government was laying emphasis on constructing cheaper residential units at industrial areas with participation of private sectors and putting efforts to generate skilled human resources for industries.

Chief Minister revealed that the state government was committed to encourage setting up of high-tech industries in electronics, IT, Pharmaceuticals, small scale industries, Food Processing units and other similar industries at hill areas by ensuring 24 hours power supply in subsidized tariff and providing rebates in taxes.

Mr. Goenka said that he had prepared a work plan for the Rs. 3,000 crore Project under which the Mahindra Group would set up a plant with production capacity of 2.55 lakh vehicles. He expected from the State Government a 500 acre land for the plant, 200 acre land for supplier unit, providence of power, water and other requisite facilities in subsidized rates and rebate in tax.

Also present on the occasion were Chief Secretary Subhash Kumar, Additional Chief Secretary Aloke Kumar Jain and Principal Secretary Industrial Development Rakesh Sharma.