Business: Hero Honda Haridwar plant expansion plans interrupted

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posted by shankar01 986 days ago
Hero Honda’s profit making plant in Haridwar Industrial estate, Uttarakhand, is in trouble due to dispute over land payments. A government agency has warned the company to pay the cost of 94.5 acres of land which was allotted to Hero Honda in 2006 or face the cancellation. On the other hand, the company says that it is not using the whole land and will settle the issue through negotiations with the agency. The fact is-Hero Honda was allotted 265 acres of land at the cost of Rs 1,000 per square metre in Haridwar in 2006. The company used only 119.75 acres for the plant and made the full payments that is Rs 49 crore.
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