M&M plan 2nd plant in Uttaranchal
This will be Mahindra & Mahindta's second plant in Uttaranchal and will manufacture four-wheelers.india Updated: Oct 06, 2006 21:37 IST
Utility and farm equipments major Mahindra and Mahindra is setting up a second plant in Uttaranchal that will see the company invest up to Rs 1,500 crore for manufacturing four-wheelers.
The company's new plant would come up at Pantnagar and is likely to produce mini trucks, sources said.
"Mahindra has been allotted around 200 acres of land and the new plant is likely to begin production by end 2007," they added.
Uttaranchal offers tax incentives to investing companies, including a ten-year excise duty waiver and complete income tax exemption for the first five years.
Mahindra has already set up a three-wheeler plant at Haridwar in Uttaranchal in which it is investing Rs 70 crore.