MeraPahad Community Of Uttarakhand Lovers

Archidply Industries Limited, manufacturers of comprehensive engineered interior products which include Plywood, Block Board, Plain and Pre Laminated Particle Board, Decorative Laminates and Decorative Veneers, has received SEBI clearance for its forthcoming Initial Public Offer of 66,15,720 equity shares.

Also, ICRA has assigned an ICRA IPO Grade "3/5" (pronounced "three on five") to the proposed initial public offering of Archidply Industries Limited. The company had applied to ICRA for the grading of its IPO in the month of November 2007.

The capital raised from the issue will be deployed for

Setting up a new manufacturing facility of Plain Particle Board (PPB), Pre Laminated Board (PLB) and decorative plywood at Chintamani in Karnataka,
Setting up a new manufacturing capacity for medium density fibreboard (MDF) at Rudrapur in Uttarakhand and
Margin Money for Working Capital

STATE INFRASTRUCTURE & INDUSTRIAL DEVELOPMENT CORPORATION OF UTTARAKHAND LTD.

Lohia Group enters into automobile sector
Lohia Group has announced its foray into the automobile sector with an INR 150 crore investment to launch electric two and three wheeler vehicles in the second half of 2008.

Lohia Group, which has set up a subsidiary called Lohia Auto Industries, will set up a Greenfield manufacturing facility in Kashipur in Uttarakhand, with an installed capacity of 200,000 units a year.

Mr Ayush Lohia VP of Lohia Auto Industries said that "Recently, central and various state governments have taken initiatives to promote environment-friendly vehicles. Keeping in mind this aspect and soaring fuel prices, we have decided to launch electric vehicles in India." He added that the first lot of the electric two wheelers from the Lohia stable would hit the market by August 2008 followed by three wheelers in November 2008.

Commenting on the company's production capacity, he said out of the installed capacity of 200,000 units a year, about 150,000 would be two wheelers and the remaining would be passenger three wheelers. He added that "The capacity is scalable up to 800,000 to 1million in the future."

Mr Lohia said that initially, the facility would have about 60% localisation in components, which would be increased up to 70% to 80% within 3 to 6 months of the launch. It would also set up two research and development centers.

Lohia Group is currently involved in garment and handicraft exports, steel and brass coil business and real estate.

This is not good news for UK.. Govt must try to extend the tax exeption in the state.

FM opposes extension of tax exemptions to industries
 
May 30, 2008 
 
 
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A A AFinance Minister P Chidambaram on Friday opposed the extension of tax exemptions to industries, stating that he has already turned down some proposals in this regard.

"I would be happy if the tax exemptions come to an end on the day of sunset clause" he told media persons in New Delhi.

Notably, Commerce Minister Kamal Nath has been supporting the demand of Export Oriented Units (EOUs) for extension of tax holiday beyond 2010.

The Finance Ministry has already extended the tax holiday for units set up in Software Technology Park of India (STPI) till 2010.

Expressing concern over sluggish growth in tax collections, he said that due to area-based tax exemptions, there was no one to one link between industrial growth and excise collections.

In Himachal Pradesh and Uttarakhand, the new units which are set up before March 31, 2010, have been granted tax holiday, including corporate tax holiday and excise duty exemption, by the central government.

When asked, Chidambaram said for instance, that food processing industry could grow at a high rate, but would have no impact on excise collections due to tax exemption.

According to Union Budget 2008-09, government lost over Rs 45,000 crore in 2007-08 due to various tax exemptions to the industry. It included about Rs 12,000 crore under STPI tax exemptions and about Rs 3,000 crore in area-based exemptions to Himachal Pradesh, Uttarakhand and northeastern states.

When asked, he said the production based excise collections from Gutka manufacturers would be made mandatory considering it "a special case" but it would not be extended to other industries.
 

Uttarakhand to ok state`s 3rd largest industrial estate
 
Shishir Prashant / New Delhi/ Dehra Dun June 03, 2008, 3:29 IST
 
 
The State Industrial Development Corporation of Uttarakhand Ltd (SIDCUL) will shortly put up a proposal to develop an industrial estate at Escorts Farms in the industrial town of Kashipur in Uttarakhand.
 

"The proposal regarding the Kashipur industrial estate will be put up before the SIDCUL Board for final approval in a week or two," a top official yesterday said.

After Haridwar and Pantnagar, the Escorts Farms industrial estate will be the biggest in the hill state with SIDCUL deciding not to hire any private consultant. For the development of infrastructure and other facilities at the industrial estate, SIDCUL is in talks with the state PWD department and the Jal Sansthan.

The government estimate suggests that the new industrial estate can attract an investment of over Rs 5,000 crore. The detailed project report (DPR) of the new industrial estate, which will be set up in 530 acres, has been prepared by IL&FS.

There will be nearly 145 industrial plots up for grab at the industrial estate. Out of 145 plots, 79 would be of one acre, 29 of four acres and the rest are of different sizes. Experts here said SIDCUL, keeping in view the difficulty faced by the industries in hiring skilled workers, should also set up a knowledge park in the state and talk to private players in this regard.

Since Escort Farms falls in the non-notified area, the government is expecting only thrust industries to set up their new units there. Escort Farms was at the centre of a controversy in 2006 after the state government decided to take back the land from settlers.

But despite an agitation by the settlers, the government managed to free land holdings from 600 acres. Now, this particular land will be used to develop the industrial estate, the official said.