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Sunday, May 30, 2004

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Swaraj Mazda to invest Rs 160 cr for capacity expansion

Our Bureau

New Delhi , May 29

COMMERCIAL vehicles manufacturer Swaraj Mazda Ltd has firmed up a plan to increase capacity by investing about Rs 160 crore over the next three to four years.

The investment would increase the company's production capacity to 36,000 vehicles from the current 10,000 units per year. It would also cover setting up of manufacturing facilities for transmission gears, and bus bodies/cargo box, tooling for localisation of sheet metal components and R&D needs for accelerating product development and meeting emission norm compliances.

The capital spending would be primarily met through internal accruals. Meanwhile, the company on Saturday announced a dividend of 70 per cent for the financial year 2003-2004.

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