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Rs 730 cr to be invested in two-wheeler venture

MR O. SUZUKI, Chairman & CEO, Suzuki Motor Corporation, and Mr Jagdish Khattar, Managing Director, Maruti Udyog, at the inauguration of Maruti's passenger car plant at Manesar in Haryana on Tuesday. — Ramesh Sharma

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New Delhi Feb. 6

The Suzuki Motor Corporation (SMC) Chairman and CEO, Mr Osamu Suzuki, today committed an investment of ¥ 300 billion (approximately Rs 11,000 crore) for the company's various operations in India in the next 3-4 years.

"So far we have invested about ¥ 100 billion. Going forward we are investing an additional ¥ 200 billion up to 2010," Mr Suzuki said while inaugurating Maruti Suzuki's fourth assembly plant here.

Two-wheeler Venture

The company had earlier announced an investment of ¥ 250 billion (approximately Rs 9,000 crore) for Maruti Udyog Ltd (MUL) and Suzuki Powertrain India Ltd (SPIL). Maruti officials added that another ¥ 20 billion (Rs 730 crore) would be invested in Suzuki's two-wheeler venture. Another ¥ 30 billion will be for other capital expenditure, they added without elaborating further.

Suzuki and Maruti Udyog joint venture SPIL diesel engine and transmission plant was also inaugurated today. Mr Suzuki further stated that SMC was fully committed to transferring technology to MUL. "SMC has 54 per cent stake in Maruti and there is nothing to hide. It is not a rival company, therefore, we are transferring technology to the extent of 100 per cent," he said.

He said SPIL would be manufacturing transmissions for one million vehicles by 2008. Besides manufacturing its premium hatchback Swift, the new plant would manufacture an export model expected to be launched in 2008-09.

The plant has an initial capacity to manufacture 1-lakh diesel engines a year and would be scaled up to 3-lakh engines per year by 2010, with a total investment of Rs 2,500 crore.

More Stories on : Cars | Outlook | Two/Three Wheelers | Maruti Udyog Ltd

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