Ultra Tech Cement to invest Rs 5,000 cr in Uttarakhand

Considered to be biggest investment by any company in the hill state so far

Ultra Tech Cement, an Aditya Birla group company, has announced plans to set up two cement plants entailing investments of over Rs 5000 crore. 

 

This is being considered as the biggest investment by any company in the hill state so far.  

 

“Ultra Tech Cement is going to set up two cement plants – one at Tyuni in Dehradun district and another at Someshwar in Almora district,” said Additional Chief Secretary Rakesh Sharma. The Rs 5000 crore investment by the company will be in a phased manner.

 

A letter of intent to this effect was issued by the state government to the company’s Managing Director R M Gupta at New Delhi on Wednesday. “We are soon going to sign an MoU with Ultra Tech,” he said. The company has been asked to complete all the environmental clearances for setting up the two cement plants in the environmentally-sensitive zones. 

 

Under the mega industrial policy, the government is offering a slew of sops for new units that entail an investment of more than Rs 75 crore. The sops include 50 percent rebate on the stamp fees, 1 percent relief in central sales tax (CST) and various other incentives including transport subsidy. 

 

After the June 16-17 deluge, which devastated a major portion of the hills of Uttarakhand, the process of industrialization in the state had taken a hit especially at Sitarganj where a new industrial estate is being developed by the government-run State Infrastructure and Industrial Development Corporation of Uttarakhand Limited (SIDCUL). Official sources said the SIDCUL has not signed a single MoU as far as new units at Sitarganj industrial estate are concerned since June.