Financial Daily from THE HINDU group of publications
Saturday, Jan 14, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 14, 2006 |
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Corporate
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Alliances & Joint Ventures Industry & Economy - Events Tatra Vectra signs MoU with Russian co Our Bureau
New Delhi , Jan. 13 TRUCK maker Tatra Vectra Motors Ltd has signed an MoU with Russia-based Kamaz Incorporated, to manufacture trucks and bus chassis for the domestic market. The company plans to roll out the products late this year. ``The Kamaz truck components would be manufactured at the company's Hosur plant in Tamil Nadu. After procuring the required clearance certificate from the authorities concerned it would roll out heavy duty trucks in the Indian market by the end of the year,'' Mr Rakesh Jinsi, Managing Director Tatra Vectra Motors Ltd (TVML), said at the Auto Expo, here. The two companies have been working together for the past few months to identify suitable products for the Indian market, he said. With regard to the investments required to facilitate the manufacturing, Mr Jinsi said, ``there would be marginal investments as the existing facility is by and large the same as what is required to manufacture the new products.'' According to Mr Jinsi, the plant at Hosur, currently has a production capacity of 200 trucks a year to which he added "we might scale up production if need be.'' The company would initially be sourcing some of the truck components from Russia but might look into its localisation depending on the economics and requirement, he said. The company Tatra Trucks India Ltd was recently renamed Tatra Vectra Motors Ltd, which, is a part of the UK-based Vectra Group.
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