Escorts Kubota Withdraws Ghiloth Manufacturing Plant Plan

Escorts Kubota Ltd has withdrawn its proposal to establish a new manufacturing plant in Ghiloth, Rajasthan, due to unmet key requirements. The firm is exploring other locations for its planned Rs 4,500 crore investment aimed at enhancing production capacities and setting up new manufacturing lines.

PTI | New Delhi | Updated: 19-06-2024 14:54 IST | Created: 19-06-2024 14:54 IST
Escorts Kubota Withdraws Ghiloth Manufacturing Plant Plan
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Escorts Kubota Ltd, a leading farm and construction equipment manufacturer, announced on Wednesday its decision to withdraw plans for a new manufacturing plant in Ghiloth, Rajasthan. The decision came after a detailed assessment revealed the location failed to meet critical requirements for a large-scale project.

The company, which has earmarked Rs 4,500 crore for a new manufacturing facility over the next three to four years, is now exploring alternative sites in other states, including Rajasthan. The initiative aims to expand production capacities and establish new engine and construction equipment lines.

Escorts Kubota had submitted an Expression of Interest (EOI) to the Rajasthan State Industrial Development and Investment Corporation (RIICO) for land acquisition in Ghiloth. However, the state's inability to promise sufficient industrial water led to the withdrawal. Despite this setback, the company remains committed to its Mid Term Business Plan (MTBP) and continues to seek suitable locations.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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