SIIDCUl signed two MoUs worth Rs 1,000 crore with two companies in the presence of Chief Minister Vijay Bahuguna and MlA Madan Singh Bisht in New Delhi on Saturday.
The first MoU was signed with URAl India Private limited, well-known heavy vehicle manufacturer. As per the MoU, URAl will invest Rs 800 crore in SIIDCUl phase-II in Sitarganj in Uttarakhand.
Another MoU was also signed with ADS Spirits Pvt ltd, which will invest in grain based distillery in SIIDCUl phase two. In the first phase, 100 acres will be given to URAl India in SIIDCUl. About 2,000 people are expected to get employment with this plant. This will be the second plant of URAl in India the first having been set up in Haldia in West Bengal.
ADS Spirits will invest Rs 200 crore. State will provide 20 acres of land to ADS Spirits. The MOUs were signed between the representatives of the companies and Chief Infrastructure Commissioner Rakesh Sharma and SIIDCUl MD Shailesh Bagoli. Bahuguna said his Government was committed to develop Uttarakhand an industrial State. Cheap electricity, good law and order conditions and manpower made Uttarakhand conducive for industrial set ups.
He also said that he is going to Britain in the last week of June at an invitation of Indo-European Business Forum where he would seek investments for Uttarakhand.