Rs14 crore worth investments expected in Rajasthan by 2009

Rs14 crore worth investments expected in Rajasthan by 2009
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First Published: Sun, Jul 01 2007. 03 59 PM IST
Updated: Sun, Jul 01 2007. 03 59 PM IST
PTI
Rajasthan: Rajasthan State Industrial Development and Investment Corp (RIICO) confirmed that it is expecting investments to the tune of Rs 14,000 crore this fiscal from various firms, including multinationals like auto major Honda.
“We have already received Rs 2,000 crore investment in cement, textiles and stone from Honda. In this ongoing fiscal, we envisage an investment between Rs 12,000-14,000 crore in the state,” RIICO Managing Director Kuldeep Ranka told reporters here.
He said Honda Siel Car India (HSCI) and its vendors have proposed an investment of Rs 5,000 crore in the state by 2009.
It is estimated that HSCI will invest Rs 2,200 crore on the car plant whereas its vendors and ancillary suppliers will invest Rs 2,800 crore. HSCI President and CEO Masahiro Takedagawa, however, said that the company has announced only an initial investment of Rs 1,000 crore on its new facility here which is spread across 600 acres.
“As of now, we would like to stick to our initial investment announcement for the production of 60,000 units per annum,” Takedagawa said, adding that when fully completed, the plant will have a capacity of two lakh units.
He said the plant although primarily meant for small car production could also see some of its existing models being produced from here depending on the market demand.
Ranka said Shriram Pistons was planning to invest Rs 700 crore at Chaupanki for its auto component facility, while the state is planning to attract other investors to Bhiwadi. Rajasthan government has been actively wooing investors to the state by offering tax sops such as providing VAT exemption for 14 years.
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First Published: Sun, Jul 01 2007. 03 59 PM IST