The Hindu Business Line : M&M to invest Rs 1,000 cr in 3 years on expansion

Auto major Mahindra & Mahindra on Friday said that it would be investing Rs 1,000 crore on capacity expansion in the next three years and that it was looking at setting up assembly units in Russia and Malaysia.

"We are looking at Rs 1,000 crore investment in capacity expansion. This would include the development of `Ingenio', engine development and capacity expansion at the Uttaranchal plant,'' the M&M President (Automotive Sector), Mr Pawan Goenka, said, on the sidelines of the annual conference of the Automotive Component Manufacturers Association of India.

Mr Goenka further said that the company expects its assembly unit in Egypt to start production by the end of this fiscal. This unit is slated to manufacture Scorpio with a capacity of about 5,000-6,000 units per year and would also be used for exports in West Asia.

Mr Goenka said that Scorpio's exports grew by around 60 per cent in the first five months of this year.

The company is also focussing on developing its hybrid Scorpio and expects to hit the market in the next two years.

Assembly units

Mr Goenka also said that the company was planning assembly units for Scorpio in Russia and Scorpio Pick-Up in Malaysia. A final decision on both the projects would be taken by the end of this year.

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