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Volvo Group on Thursday said it plans to invest Rs 3,800 crore separately and through a joint venture in its Indian operations over the next few years.
Volvo Group President and Chief Executive Officer Olof Persson told newspersons that the group plans to invest Rs 2,000 crore in India to expand its bus, construction equipment as well as truck business.
Separately, VE Commercial Vehicles Ltd, the four-year-old 50:50 joint venture between the Volvo Group and Eicher Motors Ltd, will invest Rs 1,800 crore in the next couple of years.
The investment will be made towards modernisation of Eicher product lines, exports and setting up of new engine and bus body plants and other businesses. In its Pithampur plant in Madhya Pradesh, the capacity will be expanded to produce one lakh engines by 2016. About 30 per cent of these engines will also be exported to European countries.
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