Escorts Kubota cancels a new unit at Ghiloth in Rajasthan

21 Jun 2024 CW Team

Escorts Kubota Ltd. announced that it has decided to withdraw its plan to establish a new manufacturing plant at Ghiloth in Rajasthan. The company cited the reason for this decision as its inability to fulfil all the essential requirements necessary for a large-scale project. Escorts Kubota Ltd., which has planned an investment of up to Rs 45 billion over the next three to four years for the establishment of a new manufacturing plant, stated that it remains in discussions with other states, including Rajasthan, to explore alternative options. The company had submitted an Expression of Interest (EOI) to Rajasthan State Industrial Development and Investment Corporation (RIICO) for the proposed acquisition of land in Ghiloth, Rajasthan. This was subject to obtaining the necessary approvals and clearances for setting up an integrated greenfield manufacturing facility to expand its existing capacities, as mentioned in its regulatory filing. According to the regulatory filing, "After a detailed assessment of the location, the company has concluded that the site does not meet all the key requirements necessary for the planned large-scale project. Consequently, the company has withdrawn the aforementioned expression of interest." One of the primary reasons for withdrawing the Expression of Interest, as stated in the filing, was the state government's inability to guarantee sufficient industrial water supply for the project. Nonetheless, Escorts Kubota Ltd. reaffirmed its commitment to establishing an integrated greenfield manufacturing facility in accordance with its Mid-Term Business Plan (MTBP). The company expressed its ongoing exploration of alternative options with various states, including Rajasthan.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..