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Corporate
HM to diversify into auto components manufacturing

KOLKATA: Hindustan Motors (HM) Ltd of the C K Birla group is planning major diversification into the auto components sector, from its Uttarpara factory in West Bengal.

The Managing Director of Hindustan Motors, Mr R Santhanam, told reporters here on Friday that on the identified surplus land at Uttarpara, the company plans to set up an integrated township comprising an IT park, auto-ancillary park and real estate proje cts.

He said that the company plans to invest around Rs 100 crore in the auto ancillary sector, which would be raised from developing the IT park and real estate projects.

Mr Santhanam said that although the company was yet to receive a formal communication from the West Bengal government, on the approval for sale of 314 acres of land identified as surplus for alternative use, the state Cabinet yesterday cleared the compan y's proposal on it. - PTI

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