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:
  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

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