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| Hindustan Motors gets intimation to expand plant. | | |
Kolkata, September 6
Hindustan Motors (HM) has received a
formal intimation from the Government of West Bengal for its "Revival &
Renewal Proposal" that would bring its Automotive Industrial Complex at
Uttarpara back to profitability and financial health. The proposal envisages
the following:
Diversifying & expanding into the auto component sector by developing a
modern & large sized automotive forgings & Automotive Castings & Automotive
Stampings business by cost effectively leveraging existing facilities and
infrastructure.
Sustaining the existing vehicle business by expanding range and upgrading
technology.
Transformation of work practices in line with best in class in the auto
industry - to achieve competitiveness in quality, cost & delivery.
HM expects to incur about Rs 85 crores in order to modernize and grow the
operations at Uttarpara. This proposed investment is in line with what was
submitted in its application to the WB Government. HM had applied to the
State Government, seeking permission for alternate use of 314 acres of
surplus land at Uttarpara. West Bengal Govt. had indicated last month that
HM's application had been approved under the West Bengal Industrial Renewal
Scheme 2001 and as per West Bengal Land Reforms Act 1955. The company was
awaiting formal communication, which it has received now.
Commenting on the development, Mr. Ravi Santhanam, Managing Director,
Hindustan Motors said, "We are thankful to the Government for considering
our proposal favorably. This approval should pave the way for making
Uttarpara unit into a vibrant industrial enterprise".
HM's application envisages development of 314 acres of land, over a 4-5 year
period, into a World Class Integrated IT & ITES township and Auto Ancillary
Park. IT, ITES and Auto Ancillary are three of the fastest growing sectors
and such a development will maximize socio-economic benefits to Uttarpara
and the neighboring belts.
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