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Ashok Leyland to invest Rs 3,000cr in various projects |
PANTNAGAR: Hinduja Group company Ashok
Leyland said it will invest Rs 3,000 crore in the next three years on various
projects, including its light commercial vehicle joint venture with Japanese
automaker Nissan.
"We had cut back our investment due to the market
conditions. Now, we are activating the investment again as the market has come
back. We will invest Rs 3,000 crore in the next three years for various
activities," Ashok Leyland Managing Director R Seshasayee told reporters, a day
before inaugurating the company's Pantnagar integrated trucks unit.
He said the investments would include the company's share in the LCV
JV with Nissan, the construction equipment business (JV with John Deere) and
overseas operations (bus facility at Ras-Al-Khaimah).
After the
economic slowdown hit the auto market, Ashok Leyland had cut back on the capex
announced last year to Rs 2,000 crore from Rs 3,200 crore, for three consecutive
years.
Seshasayee said the company will start commercial operations
at its Pantnagar facility from tomorrow and it will have the capacity to produce
75,000 units at full utilisation.
He added, "The centre of gravity
for the company will change from South to North (India) after we open the
facility tomorrow. We will further consolidate our North India base when we will
transform Alwar bus body making unit into an integrated bus manufacturing plant
in the next 3-4 years."
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