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VM Motori plans its foray in India with engine production unit |
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Written by Anand
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Tuesday, 15 January 2008 |
New Delhi: Italian engine manufacturing company VM Motori is all set to take advantage of the Indian auto market and will soon be finalising plans to set up an engine manufacturing plant in India.
After conducting a feasibility study, the company has decided to set up a facility with a capacity of 40,000 engines a year to manufacture both automotive and non-automotive engines. Planning an initial investment of about Rs 88 crore, VM Motori may go for a tie up with an Indian partner to run the unit.
The company is looking for 35 acres of land and has shortlisted four states that would provide excise and tax benefits - two in south and one each in north and central India. |
