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Home arrow News arrow Automotive arrow Peugeot Board of Directors yet to finalize location of Indian plant
Peugeot Board of Directors yet to finalize location of Indian plant Print E-mail
Written by Vivek   
Friday, 01 July 2011
Gandhinagar: A delegation of Peugeot Group of Companies led by Mr. Gregoire Olivier, CEO(Asia) and Mr. Fredric Faber, MD(India) today met Chief Minister Mr. Narendra Modi and expressed the desire to setup its car manufacturing plant in Gujarat.

Olivier said that the company is in talks with three States for setting up its first plant in India and that Gujarat is one of the favorite places of the company. However, the company has not taken any decision yet and the Board of Directors will finalize the matter, he said.

"The decision related to the location of a future plant in India is not taken at this stage. Gregoire Olivier, member of the Managing Board and Executive Senior Vice President for Asia, met this week with high-ranking authorities of Tamil Nadu and Gujarat to discuss the matter. The localization of the plant in Andra Pradesh also remains an option," the company said in a statement.

Peugeot officials said that Gujarat is rapidly emerging as a hub for automobile industry. The company is impressed with the fast-paced development of Gujarat and is in talk with the state government regarding a suitable place for the plant.

Minister of State for Industries Mr. Saurabh Patel, Additional Chief Secretary to Finance Mr. M.Shrivastava, Principal Secretary to Chief Minister Mr. K.Kailasnathan, Secretary Mr. A.K.Sharma, MD of GIDC Mr. Arvind Agrawal and top officials of Industries department were present on the occasion.

Jitesh Gadhia, senior managing director of UK-based Blackstone group, who was the part of the four-member delegation that met Modi, told reporters that the firm was still in negotiations with three states - Gujarat, Tamil Nadu and Andhra Pradesh. He said that the PSA board would take the final decision in a few months.

Last Updated ( Saturday, 02 July 2011 )
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