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 Consequently, the company has withdrawn the aforementioned expression of interest."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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..