Mahindra & Mahindra (M&M) has proposed to invest Rs 3,000 crore to set up a manufacturing plant in Uttarakhand, according to the state government.
“Mahindra group has proposed to establish a project worth Rs 3,000 crore,” the government said in a statement.
M&M President, (Automotive and Farm Equipment Sectors) Mr Pawan Goenka had a meeting with the state Chief Minister, Mr Vijay Bahuguna on April 26. According to the statement, M&M plans to set up a manufacturing unit with a production capacity of 2.5 lakh units annually.
The company has sought 500 acre land for the plant and Rs 200 crore for supplier unit. During the discussions, Mr Bahuguna said the government would try to provide land to M&M at Sitargunj for the project.
When contacted, an M&M spokesperson said: “Mr 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.”