Maruti Suzuki buys land for fourth plant - report

TOKYO Sun Jan 27, 2013 5:11pm IST

A worker walks at a Maruti Suzuki stockyard on the outskirts of the western Indian city of Ahmedabad July 28, 2012.REUTERS/Amit Dave/Files

A worker walks at a Maruti Suzuki stockyard on the outskirts of the western Indian city of Ahmedabad July 28, 2012.

Credit: Reuters/Amit Dave/Files

Related Topics

Stocks

   

TOKYO (Reuters) - Maruti Suzuki India Ltd(MRTI.NS), the country's biggest carmaker by sales volume, has purchased land in Gujarat for its fourth plant, with a view to roughly doubling annual production capacity to about 3 million units, the Nikkei business daily said on Sunday.

The company purchased the land for a new factory with capacity of about 750,000 units a year, the company's Chairman, R.C. Bhargava, told the Nikkei.

The fourth plant is slated to begin production in 2017 at the earliest and help expand exports to Europe and the Middle East, the report said.

Maruti Suzuki is set to begin work by March on its third plant in Mehsana district, also in Gujarat, with production to begin in 2015, it added.

Maruti, controlled by Japan's Suzuki Motor Corp (7269.T), is the leading producer of small cars in India. Two years ago, it produced every other new car sold in the nation.

(Reporting by Osamu Tsukimori; Editing by Ron Popeski)

FILED UNDER:

Reuters Showcase

GDP Growth

GDP Growth

India revises up 2013/14 GDP growth to 6.9 percent.  Full Article 

Pharma Deal

Pharma Deal

Sun Pharmaceutical wins U.S. approval to buy Ranbaxy  Full Article 

Adani Restructuring

Adani Restructuring

Adani hives off power, ports businesses to boost growth.  Full Article 

Bank of Baroda

Bank of Baroda

Q3 net profit down 69 pct on higher provisions  Full Article 

Trading Fees

Trading Fees

BSE slashes fees in FX derivatives battle with NSE  Full Article 

SpiceJet Turnaround

SpiceJet Turnaround

SpiceJet board approves up to $243 mln share sale plan  Full Article 

Currency Market

Currency Market

RBI urges companies to hedge FX exposure  Full Article 

Banking Sector

Banking Sector

Banks say no room to cut lending rates, thwarting RBI easing  Full Article 

Reuters Poll

Reuters Poll

RBI seen holding rates steady on Tuesday, minority of analysts expect cut  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage