Financial Daily from THE HINDU group of publications
Friday, Jan 13, 2006
Financial Daily from THE HINDU group of publications Friday, Jan 13, 2006 |
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Corporate
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Outlook Industry & Economy - Events Maruti Udyog to pump in Rs 2,718 cr by 2008 — Five new models on the anvil Our Bureau
Mr Jagdish Khattar, MD, MUL, with Mr K. Saito, Director, Marketing, unveiling `Swift Sport'. — Ramesh Sharma
New Delhi , Jan. 12 MARUTI Udyog Ltd (MUL), on Thursday said it will invest Rs 2,718 crore at its plant by 2008 and launch five new models, including a diesel car, in the next five years. "The new investments would be made for introducing new models, research and development as well as upgradation of our facility," the MUL Managing Director, Mr Jagdish Khattar, said here while inaugurating the company's pavilion at the 8th Auto Expo. The Rs 2,718 crore capex is an extension of the Rs 3,200-crore investment announced earlier by Suzuki for setting up a passenger car and diesel engine plant. "The diesel engine plant will be ready by the end of this year and along with it will come a new diesel car model in the Indian market. "The diesel compact car would be ready for launch by end of 2006," Mr Khattar said. Meanwhile, Mr Khattar declined to divulge information on the other car models the company plans to launch. In April, Maruti said its directors approved the investment of Rs 3,270 crore to set up a car factory and an engine plant. Maruti and its parent will together invest as much as Rs 1,520 crore in the car factory, and Rs 1,750 crore in the diesel engine plant. Asked about the funding of the new investment plan, Mr Khattar said it would be mainly through internal accruals but the company may look at the option of raising loans, if required. "Funds would not be a constraint," he said. The company's pavilion here at the Auto Expo displays the SUV `Escudo', `Solio', a vehicle specifically designed for the physically challenged, and the 1.6 litre Swift Sport.
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