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Govt smoothens bumpy road for MLR
Automobile manufacturing company MLR Motors Private Limited received a fresh lease of life on Monday with the State government returning 100 acres of land for setting up an automobile manufacturing unit at Automotive Park near Toopran in Medak district on condition that it would begin production in 24 months and provide nearly 3,000 jobs.
TS government returns 100 acres to the automobile manufacturing company near Toopran in Medak district
- Company assures to roll out vehicles in two years and provide about 3,000 jobs
- TSICC to monitor the progress of work every month
- Govt rules out further extensions
Hyderabad: Automobile manufacturing company MLR Motors Private Limited received a fresh lease of life on Monday with the State government returning 100 acres of land for setting up an automobile manufacturing unit at Automotive Park near Toopran in Medak district on condition that it would begin production in 24 months and provide nearly 3,000 jobs.
The official monitoring agency - TSIIC (Telangana State Industrial and Infrastructure Corporation) would monitor the progress of work here every month. Officials of the State Industries department told The Hans India that the company should implement the project and commence the actual production within two years from the date of extension granted and no more extensions would be entertained.
In the event of failure, the allotment of land made to the company, would automatically cancelled, they said. The company also agreed the three conditions put forth by TSIIC, which includes, ‘any amount due by the company to TSIIC shall be paid by the company before any extension is granted and the company shall pay an additional amount of 25 per cent on the value of the land allotted to it earlier ie., as on the date of such previous allotment and land shall be resumed to TSIIC after two years if actual production fails to commence.’
The company has already taken up construction of factory building sheds in 25 acres of land and has been showing progress in its efforts to establish the industrial unit. It plans to establish the industrial unit for manufacturing of four-wheelers in 100 acres of land and also another unit for manufacturing three-wheelers in another 25-acre parcel, which is registered in its favour.
Further, Lokesh Machines Limited, the ancillary unit of MLR Motors has also entered into an MoU with a Chinese Company (CFHI Shaoxing Heavy Machine Tools Company Limited) showing investment in Lokesh Machines Limited and committed to start its operation by the end of March 2016.
It may be mentioned here that the then government in united Andhra Pradesh had allotted 225 acres of land for the purpose, but the company failed to take up the project in the stipulated time resulting in TSIIC cancelling the allotment of 100 acre in 2015 as the company failed to implement the project even after taking possession of land in 2007. Officials said that the company was enthused by the new industrial policy and requested the government to provide incentives applicable as per the new industrial policy for it to roll out automobiles.
