Nashik to see Rs 3,000 cr investment by 2008

Mahindra Group to pump Rs 1,550 crore in Nashik and Igaturi facilities.

The industrial development in Nashik is gaining momentum with several large and SME units expanding their manufacturing base and several new units coming up here.

Against this backdrop, Nashik is set to attract fresh investments to the tune of Rs 3,000 crore in the next two-three years.

Mahindra Group is investing Rs 1,550 crore for expansion of Nashik and Igaturi facilities for its two new vehicle projects""Logan and Ingenio.

Mahindra Renault, a 51:49 joint venture between domestic automobile major Mahindra & Mahindra (M&M) and French car giant Renault, is investing Rs 600 crore to manufacture right hand driven (RHD) entry-level C segment cars at Nashik's state-of-the-art facility.

Besides, M&M is investing an additional Rs 600 crore for its upcoming multi-utility vehicle project""Ingenio, Rs 100 crore to enhance the capacity of Scorpio-Bolero units and Rs 200 crore to double the capacity of its engine manufacturing facility at Igatpuri.

Mahindra Intertrade Ltd (MIL), an M&M Group company, is setting up a new blanking line at Rs 50 crore at Nashik.

Motor Industries Co. (MICO), the Indian subsidiary of Robert Bosch GmbH, the global leader in automotive and industrial technology, is investing Rs 550 crore for manufacturing Common Rail Diesel Injectors (CRDi) by 2007 at its facility here.

Tyre major CEAT is also planning to expand its production capacity at its radial plant here in the next two-three months at an investment of Rs Rs 15 crore. After the expansion, the manufacturing capacity of the Nashik facility would go up to 65,000 passenger tyres per month (from the current 40,000 tyres per month).

Gujarat Ambuja Exports (GAEL), manufacturer-cum-exporter of cotton yarn and processed products, is planning to set up a maize-based ethanol and extra-neutral alcohol (ENA) plant at a total investment of Rs 325 crore.

Initially, it will invest Rs 100 crore, the additional Rs 225 crore after commencement of the plant. Lear Corporation, one of the world's largest automotive interior suppliers, is setting up its second vehicle seats manufacturing plant at an investment of Rs 30 crore.

Delhi-based JBM Auto Group, an emerging player in the sheet metal components segment, is commissioning a manufacturing plant here at an investment of Rs 30 crore.

Shalimar Wire Industries (SWIL), a wire manufacturing company of the Shalimar Group, is also planning to commence its Nashik unit after complete re-kitting out of the factory and modernise its second plant- Paper Machine Wire Industries, at a total investment of Rs 60 crore. The company will raise this amount through bank loans.

Another company, which is planning to set up shop is Glaxo SmithKline Biologicals (GSK). The investment for the state-of-the-art vaccine manufacturing plant is likely to be in the range of Rs 55 crore.

The plant is expected to start commercial operation by March 2007. Nashik-based Sula Wines, a premium grape wine producer in the country, is also investing Rs 25 crore in the next two-three years to increase its production capacity.

In the current fiscal year, Dirk India is investing Rs 18 crore to maximise the output of its Nashik plant by creating high-end concrete improvers using new technology. VIP Industries is investing Rs 3 crore to increase manufacturing capacity of its Nashik facility by December 2006.

Nashik-based Fem Care Pharma Ltd. (FCPL) is setting up a chemical facility at Vadivarhe, 6 km from here, at an investment of Rs 6 crore and Rs 2 crore for developing an R&D centre.

Besides, many SMEs in Satpur, Ambad, Sinnar and Dindori areas of the Maharashtra Industrial Development Corporation (MIDC) in the Nashik belt are in expansion mode. Their total investment for expansion is estimated at Rs 350 crore in the next one-two years.