Parle to set up manufacturing facility in Uttarakhand

The company will invest Rs 200 crore in the new plant

Fast-moving consumer goods (FMCG) giant Parle has decided to set up a new manufacturing facility at Sitarganj integrated industrial estate (IIE) in Uttarakhand.

This will be the first big project by an FMCG company at Sitarganj, where the State Industrial Development Corporation of Uttarakhand (Sidcul) is developing the IIE, which includes a heliport.

Parle will invest Rs 200 crore in the new plant. Confirming the development, top government officials said Parle would soon start the construction work for the same. "Parle has already deposited the money, which is required for land allotment," said Sunder Lal Semwal, general manager, Sidcul.

Parle has been allotted 10 acres of land at Sitarganj.

Besides Parle, Sidcul says other FMCG companies such as Coca-Cola would also set up units at Sitarganj. "With the Union Budget favouring the growth of FMCG companies especially in rural areas, we are optimistic that lots of such companies would come to Sitarganj," added Semwal.

Under the mega industrial and investment policy 2015 in the state, the new Parle unit would come under ultra mega projects, where the investment is greater than Rs 200 crore.

Under this scheme, new units get 30 per cent rebate on Sidcul's prevailing land rates. The land cost at Sitarganj is Rs 2,000 per square metre.

For large projects, the government is offering 30-50 per cent discount in value added tax up to five years from the commencement of production.

Other incentives include interest subsidy and rebate on stamp duty, among other things.

Sitarganj is being developed in 1,700 acres, out of a total area of 1,172 acres earmarked for industry.
PROPELLING GROWTH

• This will be the first ever big project by an FMCG company at Sitarganj
   
• Parle would invest more than Rs 200 crore in the new plant
   
• For the plant, Parle has been allotted 10 acres of land
   
• Besides Parle, SIDCUL is hoping that other FMCG companies such as Coca Cola would also set up new units at Sitarganj