Escorts-Kubota Ltd has evinced interest in investing INR 4,500 crore to set up a tractor and agri-machinery plant in Rajasthan.
Nikhil Nanda, chairman and MD of Escorts-Kubota Ltd, met principal secretary of industries, Ajitabh Sharma, on Tuesday and discussed the company’s plans to set up a greenfield plant in Ghilot, which is a hub for Japanese companies.
Sources said Escorts-Kubota submitted an expression of interest to set up the plant that will generate job opportunities for 4,000 people directly and for 10,000 indirectly. The company intends to achieve an annual revenue of INR 10,000 crore from the plant, they added.
Responding to a query from TOI, Sharma said, “We will go all out to get the investment. Projects of such size and companies of such pedigree will add depth to the state’s industrialisation and boost Rajasthan’s investor-friendly image.” While Sharma did not disclose details of the project, it is learnt that the company has already identified land for the plant.
Escorts-Kubota Ltd is also expected to apply for a special package under which the state government offers a slew of incentives.
