D S Group to invest Rs 400 cr in Uttarakhand

MoU to this effect has been signed between D S Group Director Atul Jain and State Industrial Development Corporation of Uttrakhand

As part of the the SIDCUL Phase II project at Sitarganj in Uttarakhand, the Dharmpal Satyapal (DS) Group will invest Rs 400 crore in dairy, food and packaging sectors of the state.
    
A MoU to this effect was signed between D S Group Director Atul Jain and State Industrial Development Corporation of Uttarakhand Ltd (SIDCUL) M D and Principal Secretary (Industries), Uttarakhand Rakesh Sharma here yesterday in the presence of Chief Minister Vijay Bahuguna.
    
A cheque of Rs 1 crore was handed over to the government as earnest money and processing charges.
    

The chief minister said the state had adopted the single window system and an industry-friendly policy, that brought in a lot of investment.

    
He said several proposals of investment were in the pipeline, adding, private investment was being encouraged while protecting the interests of the state.
    
The chief minister said government would ensure that priority in employment is given to local youth by units that were set up in the state.
    
Sharma said the company would set up units in Sitarganj and would give employment to 1,000 people, adding, it will also buy local dairy produce.
    
The company has been given 200 acres of land at the rate of Rs 54 lakh per acre as per government norms, he said, adding that if needed, 70 acres of land would be given to the company in the second phase.

    
At present, the company is investing Rs 400 crore which may go up to Rs 1,000 crore in future, said Rajesh Kumar, Director, DS Group.
    
The company is already working in the tourism sector in Uttarakhand. The environment here is conducive for industries. A cow breeding farm will also be set up by the group with technical support from Denmark an Israel, he said.