Several companies, including Tata Motors and Bajaj Auto, which are setting up units in Uttarakhand, want to buy more land amid reports that plots comprising an area of 300 acres are still lying vacant in the key industrial estates of Haridwar and Pantnagar.
A government nod in this regard is expected shortly, top officials said.
For buying more land, the companies, whose new units are coming up, have approached the State Industrial Development Corporation Ltd, a state government enterprise, which has set up the two estates.
Tata Motors is expected to invest around Rs 2,500 cores (Rs 25 billion) in its manufacturing facility to produce Ace trucks. The company has already bought 1,000 acres of land at Pantnagar.
But officials said Tata Motors feels that 1,000 acres may not be sufficient for the new unit. Similarly, other companies are also waiting for the final government nod on the issue. Moreover, Bajaj Auto, ITC and Tata Motors are all set to start production shortly.
Uttarakhand has received investments worth Rs 26,000 crores (Rs 260 billion) during the past three years in the wake of the special tax holiday scheme granted by the Centre.
Three new industrial estates Haridwar, Pantnagar and Sitarganj have come up in Uttarakhand where companies like Nestle, Britannia and Mahindra & Mahindra have already started production taking the benefit of excise tax exemptions and other sops.
