Farm and construction equipment manufacturer, Escorts Kubota said it has withdrawn its plan to set up a new manufacturing plant at Ghiloth in Rajasthan due to failure to meet all the key requirements for a “large-scale project being planned”.

The company, which has lined up an investment of up to Rs 4,500 crore over the next three-four years to set up a new manufacturing plant, said it continues to explore alternate options with other States, including Rajasthan.

The company in November had intimated and on February 14, this year had submitted an expression of interest (EOI) to Rajasthan State Industrial Development and Investment Corporation (RIICO) for proposed acquisition of Land in Ghiloth, Rajasthan (subject to requisite approvals), for setting up an integrated greenfield manufacturing facility, for expanding the existing capacities.

Through a new manufacturing plant, Escorts Kubota plans to double its domestic tractor production capacity to 3.4 lakh units annually, while also setting up new engine and construction equipment lines in phases.