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|1st September 2014, 11:23||#1|
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Mahindra to invest Rs. 4,000 crore in Chakan plant expansion
Mahindra & Mahindra has announced that it will make an additional investment of Rs. 4,000 crore for the expansion of its plant at Chakan in Maharashtra. This investment will be made over a period of seven years and will take the total amount invested by the company in the plant to Rs. 8,000 crore.
The total amount of Rs. 4,000 crore will be utilized towards the development of infrastructure, development of products and expansion of capacity for vehicles to be rolled out from the Chakan plant.
The Government of Maharashtra has conferred the status of ‘Ultra Mega Project’ to this proposed expansion. Additionally, the company says that there will be further investment by suppliers to cater to its increased requirement.
Mahindra's Chakan plant is spread over 700 acres and has a production capacity of 3.2 million vehicles per year. The plant currently manufactures the company's entire medium and heavy commercial vehicle range including the 0.75 ton Maxximo, single and double cab Pik-Ups and the whole new range of Mahindra Trucks. The plant also rolls out the XUV500 and the SsangYong Rexton.
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