L’Oreal to set up Rs.400 crore plant in HimachalJuly 11th, 2012 - 6:08 pm ICT by IANS
Shimla, July 11 (IANS) French cosmetics giant L’Oreal has shown keen interest in setting up a facility in Himachal Pradesh, the first in north India, state Industries Minister Kishan Kapoor said here Wednesday.
Kapoor said the company has plans to invest Rs.400 crore in the manufacturing plant in the state’s prominent industrial belt of Baddi in Solan district.
“The government is facilitating the company to select the land for the plant. Two-three sites have been shown to the company officials but they are keen to set up the unit in Baddi area,” Kapoor told IANS.
This will be the company’s second plant in India after Pune, which has a 250-million-unit manufacturing capacity.
As per company’s proposal, the Himachal facility will provide employment to 700 people directly and indirectly.
Kapoor said apart from L’Oreal, another major group — Indorama Industries, the world’s largest producer of polyester, has invested Rs.400 crore in its green field plant in Baddi. “It is now investing more than Rs.1,000 crore in three phases of expansion,” he added.
The facility of Indorama Industries, a subsidiary of the Singapore-based Indorama Corporation, produces spandex filament yarns at Baddi.
The minister said the state’s industrial sector received a major boost in 2003 following the special industrial package announced by the Atal Bihari Vajpayee-led National Democratic Alliance government.
“Even after the expiry of the industrial package (in March 2010), the state has attracted good investment proposals. Even multinational companies have shown interest in making investment in the state,” Kapoor said.
The state had approved 69 industrial proposals worth Rs.3,896 crore and 81 expansion proposals of Rs.7,880 crore after the industrial package.
According to official data, as of May 31, 2012 as many as 38,790 industrial units, including 488 medium and large scale, are registered with an investment of Rs.16,287 crore.
During the four-and-a-half-year government of the Bharatiya Janata Party (BJP), 4,265 industrial enterprises with an investment of Rs.10167.15 crore have been established, out of which 115 units are in the medium and large scale sector.
- Indorama to invest Rs.1,000 crore in Himachal project - Apr 03, 2012
- Vardhman to set up another facility in Himachal - Sep 10, 2011
- Vardhman to set up another facility in Himachal - Nov 02, 2010
- Himachal's fruit processing plant to be modernised - Jun 24, 2011
- Rajasthan offers sops to industrial units - Jun 13, 2012
- Panacea Biotec commissions anti-cancer unit in Himachal - Mar 29, 2012
- Himachal gets investment proposals worth Rs.1,000 crore - Jul 08, 2010
- Haryana gets Rs 4,700 crore industrial investment - Apr 23, 2012
- Himachal invites private funds for food processing - Jun 12, 2012
- Himachal to set up 10 new industrial estates - Nov 20, 2010
- Industrial package fails to draw much investment in Himachal - Mar 28, 2010
- M&M; mulls Rs.4,000 crore investment in Tamil Nadu - Jun 01, 2012
- Himachal's Baddi industrial area to have effluent plant - Nov 17, 2010
- Karnataka clears 28 projects worth Rs.8,622 crore investments - Jul 14, 2011
- L'Oreal to double production in two years - Mar 03, 2011
Tags: alliance government, atal bihari, baddi, filament yarns, french cosmetics, himachal pradesh, india state, industrial sector, industries minister, investment proposals, keen interest, kishan, l oreal, major group, manufacturing plant, multinational companies, national democratic alliance, north india, s industrial, shimla