Source : Economic Times
Mahindra & Mahindra Ltd will sign an agreement with the western state of Maharashtra on Tuesday for a new manufacturing plant, a source close to the development said. He declined to give details of the capacity or investment that would go into the plant.
Mahindra, India's top utility vehicle and tractor maker, has called a news conference at 0815 GMT.
The plant could be for Mahindra's joint venture with truck maker Navistar International Corp to make light, medium and heavy trucks and buses from 2007.
It could also be for the joint venture of Mahindra with France's Renault, announced last November, to assemble 500,000 cars a year in India, including the Logan sedan and its derivatives for the Indian market.
Renault has said it would also build a power train factory. Production will start by mid-2009 with an initial capacity of 300,000 cars a year.
Renault Chief Executive Carlos Ghosn had said at the time the investment would be much lower than a rumoured $1 billion.
Nissan Motor Co may also join the alliance.
Mahindra & Mahindra Ltd will sign an agreement with the western state of Maharashtra on Tuesday for a new manufacturing plant, a source close to the development said. He declined to give details of the capacity or investment that would go into the plant.
Mahindra, India's top utility vehicle and tractor maker, has called a news conference at 0815 GMT.
The plant could be for Mahindra's joint venture with truck maker Navistar International Corp to make light, medium and heavy trucks and buses from 2007.
It could also be for the joint venture of Mahindra with France's Renault, announced last November, to assemble 500,000 cars a year in India, including the Logan sedan and its derivatives for the Indian market.
Renault has said it would also build a power train factory. Production will start by mid-2009 with an initial capacity of 300,000 cars a year.
Renault Chief Executive Carlos Ghosn had said at the time the investment would be much lower than a rumoured $1 billion.
Nissan Motor Co may also join the alliance.
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