• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

DR ALBERT HIERONIMUS, Managing Director of Motor Industries Co. Ltd, at a press conference in Kolkata on Wednesday. — A. Roy Chowdhury

Kolkata , Nov 1

The Rs 4,000-crore Bosch Group in India has outlined an investment of Rs 1,800 crore by 2008. Of this, approximately Rs 900 crore has already been invested in the development of facilities and competencies, capacity ramp-up and R&D, and an additional Rs 900 crore would be further invested on similar initiatives, Dr Albert Hieronimus, Managing Director of Motor Industries Co Ltd (MICO), told newspersons here on Wednesday. The proposed investment would be generated from internal accruals.

MICO — better known as a spark plug manufacturer — accounts for three-fourths of the Bosch Group companies' turnover in India. Of the Rs 1,800 crore proposed investment, Rs 1,400 crore would be invested in MICO. Of this, Rs 550 crore would be invested in the development of facilities and competencies for its diesel technology, the common rail system.

Dr Hieronimus said Bosch's Indian operations would focus on three sectors of business, namely, automotive technology, industrial technology, and consumer goods and building technology. These sectors currently account for 63 per cent, 12 per cent and 24 per cent respectively of Bosch's revenue generation in India.

According to him, the growth in Indian automobile industry has opened up a great opportunity for the Bosch Group. MICO, for instance, produces over 20 million spark plugs a year for Indian automobile makers and the after-sales market.

"The CAGR of the Indian automotive market between 2005 and 2011 is expected to be 15 per cent compared with China's at 9.1 per cent during the same period. Our estimate is that, by 2011, 3.5 million new passenger vehicles and SUVs will be manufactured by Indian companies annually," he said and added that the growth in the non-automotive businesses of the company have been driven by strong growth in the construction and infrastructure sectors.

More Stories on : Outlook | Overseas Investments | Automobile Components | West Bengal

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
JSW Steel hikes price

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line