MeraPahad Community Of Uttarakhand Lovers

 Ashok Leyland in Rs 3,000cr expansion plan
 
Press Trust of India / New Delhi April 30, 2008
 
 
 
Hinduja flagship company Ashok Leyland today said it will invest Rs 3,000 crore on its new plant, coming up in Uttarakhand and on capacity expansion of its existing unit at Ennore.

 

A part of the planned investment will also be on engine development. The company is developing six cylinder and four cylinder engines with Austrian firm AVL complying with the Euro IV norms.


"The company will be investing Rs 3,000 crore on the new vehicle plant coming up in Uttarakhand, which will be capable of rolling out 50,000 vehicles and expansion of manufacturing facility at Ennore and the new engine development project," Ashok Leyland Chief Financial Officer K Sridharan told reporters on the sidelines of CFO Asia Summit here.


He said Rs 1,000-1,500 crore would be raised through internal accruals, while close to Rs 800 crore would be raised from outside, possibly from overseas market.


The company had also raised $200 million through external commercial borrowings of which $20 million have already been drawn while remaining amount is yet to be drawn from the market, he added.

 

 
 

Kesoram plans to raise tyre output capacity
2008-05-06 08:38:56 Source : Business Line
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Kolkata, May 5

Kesoram Industries has decided to further expand radial tyre production capacity by 100 tonne per day (tpd) and cross-ply or bias tyres by 125 tpd at its unit in Uttarakhand at an estimated cost of Rs 840 crore.

The company board had approved the proposal setting commercial production timeline for the new project by early 2010.

The BK Birla group outfit’s greenfield plant near Haridwar in Uttarakhand had earlier projected a capacity of 257 tpd at a cost Rs 650 crore and was to go on stream this month. Now, the company has informed in a note to the accounts for 2007-08 that “a part of production capacity is expected to start commercial production in May 2008, and balance in phases by end of 2008/early 2009”. The plant will enjoy 100 per cent excise duty exemption for five years.

Balasore tyre unit

Meanwhile, production capacity of the company’s tyre unit at Balasore has been increased in phases from 198 tpd to 252 tpd and the last phase of the project started commercial production in November 2007.

The ongoing execution of the project for capacity addition of 1.65 tonne a year at the company’s Vasavadatta Cement unit in Andhra Pradesh, however, remains on schedule. The project is expected to be completed by the year-end.

Taken from Business Line

Blue Star to set up refrigerator plant in Uttarakhand

NEW DELHI: Airconditioning systems maker Blue Star today announced setting up a new refrigerator facility at Uttarakhand in the next 18 months, even as it expects a 35 per cent topline growth this fiscal.

The company is also looking forward to establish an assembly unit in the Middle East for central airconditioning machines.

"We are examining the possibility of setting up our sixth plant in Uttarakhand and most likely it will be for our refrigerators. It will be ready within next one and half year," Blue Star Ltd Deputy Managing Director T Gouri Sankara Babu told reporters here.

The facility would have a capacity to manufacture products worth Rs 500 crore, he added.

Blue Star has completed the construction of its fifth plant at Wada in Maharashtra at an investment of Rs 50 crore and it would commission the unit in one month. The plant would produce central and telecom airconditioners (ACs) worth Rs 500 crore per annum, Babu said.

The company is also planning to set up an export oriented unit (EOU) inside the Wada plant, which would be ready within one year after the due approval processes get over, he added.

Blue Star witnessed about 40 per cent growth during 2007-08. "We are yet to declare the results but we expect it to be around Rs 2,200 crore from Rs 1,600 crore in the previous fiscal," Babu said.

The company is expecting over 35 per cent growth in its revenue during the current financial year, he added.

Setco commences operations at new facility in Sitargunj, Uttarakhand     
Written by Ganesh     
Monday, 19 May 2008 
Mumbai: Setco Automotive Ltd (Setco) manufacturers of world renowned ‘Lipe’ clutches for heavy and medium commercial vehicles on 10th last month, inaugurated its state of the art facility set up to cater to the aftermarket clutch requirements of its customer base. Approximately 55 Setco employees based out of this facility will be involved in the manufacture of Setco's new and enhanced, high quality clutch products.
This is a semi-automated assembly line, which will increase Setco's capacity and productivity in India by 150% thus adding the capability to cater to increasing aftermarket needs consistently.

Commenting on the occasion, Mr. Harish Sheth, Chairman & Managing Director, Setco Automotive Ltd., said, “We are very excited to have this new facility up and running. Setting up a plant in Uttarakhand was a strategic decision on our part to emphasize our support to our OEM and aftermarket customers. Apart from this because of the benefits offered by the state, our same high quality products will cost less to manufacture, thus allowing us to give more competitive prices to the end user. This will definitely give us a competitive edge in the market. We are committed to the community and are happy to be here."

Located near Sitarganj, the unit is placed in the rich fertile triad belt, surrounded by lush green fields & forest encompassing wild habitation and is on a 2 acre plot with an investment of Rs. 9 crores. Setco’s new and improved products will be manufactured here to give customers better performance for every rupee spent."

Further, the setting up of this facility would provide leverage in terms of the reliable supply chain to meet the consumer requirements. The capacities freed at Kalol will be used to produce our new and improved product lines to the OEMs and meet their global requirements. It will also allow us production diversity without losing productivity.

The facility will be commencing production immediately after the inauguration. In the next 5 years it will add more products and capabilities and at least triple its employment creating value added jobs for the local community.