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Maruti, Suzuki announce Rs. 6,000-crore plan

By Our Special Correspondent

NEW DELHI, SEPT. 23. Maruti Udyog Limited (MUL) today announced a Rs. 6,000-crore investment plan envisaging the establishment of a new car plant in India among other things. MUL and its parent company, Suzuki Motor Corporation, will float a joint venture to set up the plant at Manesar near Gurgaon in Haryana. It will have 70 per cent equity in accordance with the settlement reached between the Government and the Japanese auto major.

Revealing the investment plans for the next five years cleared earlier in the day by the Board, the MUL managing director, Jagdish Khattar, said another joint venture with Suzuki — Suzuki Metal India — would produce diesel engines for domestic and international markets.

Once the new diesel engine plant is established, it will end MUL's dependence on imported diesel engines from French company Peugeot for its popular brands, including Zen. Suzuki Metal India is a 49: 51 joint venture of Maruti and Suzuki.

According to the Maruti Udyog chairman, Shinzo Nakanishi, a new joint venture called Suzuki Maruti India will be floated for the plant. While MUL will have 70 per cent equity in it, Suzuki will have the remaining 30 per cent. The investment of over Rs. 6,000 crores, to be made in the next 4-5 years, would be for the new car plant, diesel facility and R&D, he said.

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