Peugeot Lost 200 Acres Land in Gujarat, Remaining 300 Acres Might be Ate up

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(added few years ago!)

Make your operations fast, otherwise someone else will eat up your share, well same has been proved on French auto giant PSA Peugeot, which due to leg in payment has lost around 1/3rd of its total 584 acres land allotted by Gujarat government. As per government officials, after over a year waiting period, government has sold the land as other buyers were keen to purchase the land. Moreover, if company does not show any interest in its remaining 300 acres land or does not make payment as well, government might go with demands arising for the same in future.

As per reports, Peugeot undertook a state support agreement in September 2011 with Gujarat government and was allotted 584 acres land in Sanand, which was planned to be used exclusively to build a 165,000-vehicles-a-year manufacturing facility. Moreover, a whooping investment of Rs. 4,000 crore had also been made by the company for the same reason. Though, in want of payment company lost its share and rest too could be vanished after Vibrant Gujarat Summit, which is likely to hoist the land’s demands.

However, company official remained neutral on the issue, as company will either go for development or not, but he confirmed the regular association of Peugeot with Gujarat government Moreover, the company is likely to be one of the sponsors of upcoming Vibrant Gujarat Summit. It is quite evident that in upcoming time, the Sanand and its nearby places are going to be major automotive hubs. As of now, three auto-components hubs are scheduled at Sanand, Halol and Hansalpur.

Tags : French, PSA Peugot, Gujarat, government, September, 2011, Vibrant Gujarat Summit, Sanand, Halol, Hansalpur

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(added few years ago!) / 807 views
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