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Our Bureau

Kolkata, Nov. 6 Indo-Russian joint venture Ural India Ltd and Chinese public sector automobile company First Auto Work (FAW) signed a memorandum of understanding on Thursday to form a small car and bus manufacturing unit in West Bengal, Mr J.K. Saraf, Chairman, Ural India Ltd, said here on Thursday.

The joint venture is mulling an investment of nearly Rs 1,500 crore in the project, Mr Saraf said, adding that the price of the small car sought to be made is expected to be priced at Rs 1.6 lakh. The project would take at least 18 months to begin production, he observed.

The Chinese partner has expressed keenness on building the factory either at Singur or at Haldia, adjacent to Ural’s existing truck assembling unit, a company official told Business Line.

More Stories on : Alliances & Joint Ventures | Cars | West Bengal

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