Shimla, July 11 (IANS) French cosmetics giant L'Oreal has shown keen interest in setting up a facility in Himachal Pradesh, the first in north India, state Industries Minister Kishan Kapoor said here Wednesday.
Kapoor said the company has plans to invest Rs.400 crore in the manufacturing plant in the state's prominent industrial belt of Baddi in Solan district.
"The government is facilitating the company to select the land for the plant. Two-three sites have been shown to the company officials but they are keen to set up the unit in Baddi area," Kapoor told IANS.
This will be the company's second plant in India after Pune, which has a 250-million-unit manufacturing capacity.
As per company's proposal, the Himachal facility will provide employment to 700 people directly and indirectly.
Kapoor said apart from L'Oreal, another major group -- Indorama Industries, the world's largest producer of polyester, has invested Rs.400 crore in its green field plant in Baddi. "It is now investing more than Rs.1,000 crore in three phases of expansion," he added.
The facility of Indorama Industries, a subsidiary of the Singapore-based Indorama Corporation, produces spandex filament yarns at Baddi.
The minister said the state's industrial sector received a major boost in 2003 following the special industrial package announced by the Atal Bihari Vajpayee-led National Democratic Alliance government.
"Even after the expiry of the industrial package (in March 2010), the state has attracted good investment proposals. Even multinational companies have shown interest in making investment in the state," Kapoor said.
The state had approved 69 industrial proposals worth Rs.3,896 crore and 81 expansion proposals of Rs.7,880 crore after the industrial package.
According to official data, as of May 31, 2012 as many as 38,790 industrial units, including 488 medium and large scale, are registered with an investment of Rs.16,287 crore.
During the four-and-a-half-year government of the Bharatiya Janata Party (BJP), 4,265 industrial enterprises with an investment of Rs.10167.15 crore have been established, out of which 115 units are in the medium and large scale sector.