New Delhi, Jan 12 (PTI) Automobile market chief Maruti Suzuki India on Monday stated its board has authorized a ₹4,960-crore proposal to amass land and increase its manufacturing capability in Gujarat.
The corporate’s board, at its assembly held on Monday, granted approval to amass land for the growth of manufacturing capability at Khoraj Industrial Property from Gujarat Industrial Growth Company, and “the proposed capability addition is as much as 1 million (10 lakh) items”, Maruti Suzuki India stated in a regulatory submitting.
On the general funding, the corporate stated it could be finalised and authorized by the board whereas framing the phases of set up of capability.
“The price of land acquisition, improvement and preparatory actions authorized by the board is ₹4,960 crore,” it added.
The mode of financing could be a mix of inside accruals and exterior borrowings, Maruti Suzuki India stated.
The full current capability of the corporate is round 24 lakh items every year in Gurugram, Manesar, Kharkhoda (all in Haryana), and Hansalpur (Gujarat), with a functionality to supply 26 lakh items every year, it added.
This consists of the items produced at erstwhile Suzuki Motor Gujarat Pvt Ltd, which has been amalgamated with the corporate, the submitting stated.
The prevailing capability is absolutely utilised, the corporate added.
In 2024, Suzuki Motor Company President Toshihiro Suzuki introduced that the corporate’s Indian arm, Maruti Suzuki India (MSI), would make investments ₹35,000 crore to arrange its second manufacturing facility in Gujarat with an put in manufacturing capability of 10 lakh items every year.
Disclaimer: This story has been revealed from a wire company feed with out modifications to the textual content.
