The country’s largest utility vehicle maker Mahindra &Mahindra has planned-up to set-up a new production plant in the state of Uttarakhand, as per a recent statement given by the state government. M&M is believed to invest a sum of over Rs 3,000 crore to establish this plant in the state, as a part of company’s future expansion plans in the Indian market.
The statement from the government side added, "Mahindra group has proposed to establish a project worth Rs 3,000 crore." The state Chief Minister Vijay Bahuguna had a meeting with the M&M President (Automotive and Farm Equipment Sectors) Pawan Goenka, on Thursday.
The new production facility of the company in the state will be having a capacity of 2.5 lakh units per annum. A large land area of 500 acre has been sought by the company for this plant where it will be investing additional Rs 200 crore for the set-up of supplier unit. The government is likely to provide land for this proposed plant at Sitargunj.
Speaking on the matter, a company spokesman said, "Goenka met the CM of state to discuss potential future investment in the state. The discussion was preliminary and we cannot comment on the details."
