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Toyota to invest Rs. 160 crores
NEW DELHI: Toyota Kirloskar Motor (TKM) is going ahead with its plans to invest Rs. 160 crores this year to augment production capacity even as its profit would almost stay flat at Rs. 109 crores during 2004-05 at a sales turnover of Rs. 3,100 crores largely on account of rise in steel prices and 2 per cent cess for education.
Revealing this while announcing a tie-up with IFFCO-Tokio General Insurance (ITGI) to extend the facility of cashless insurance service for Toyota customers, the TKM Deputy Managing Director, K. K. Swamy, said the company, which is operating at full capacity now, aims to post over 8 per cent sales growth this fiscal at 45,500 units.
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