West Bengal - Hindustan Motors to build 314-acre integrated township near Uttarpara plant
The grandfather of India's automobile industry, Hindustan Motors, now a CK Birla group company, is going into real estate development. It has won govt approval for the development of 314 acres of land near its Uttarpara plant as an integrated township.
The company plans to partner with a real estate firm for the project that will include an IT park, auto-ancillary park and other real estate developments. Funds raised by the development of the township have been earmarked to fuel the expansion of HM's auto component business.
The Uttarpara project has the potential to help the company achieve world class status due to its location on the eastern sea-front that will facilitate export.
HDFC has been hired as advisor for the project and to help identify a real estate firm for partnership.
By INRnews Correspondent
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