In India, the difficulties of many big companies like Tata, Hyundai, Mahindra, Kia are going to increase. The country’s largest car maker Maruti Suzuki India is going to build its third factory in Haryana. The company said that it will invest Rs 11,000 crore in the first phase for this new factory.
Maruti has completed the process of allotment of 800 acres of land at IMT Kharkhoda in Sonipat district. For this, the company has tied up with Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC).
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The company said that the first phase of the new factory is expected to be completed by 2025. Its production capacity will be 2.5 lakh units per year. Administrative approvals related to the construction of the new factory are yet to be taken. MSI said it will invest over Rs 11,000 crore on the first phase of the plant. The company said that the Sonepat factory will also have space for capacity expansion in the future.
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At present, Maruti Suzuki has two factories in Haryana and Gujarat with a total capacity of about 5.5 lakh units per annum. Maruti President RC Bhargava said the investment of Rs 11,000 crore includes cost of land, setting up of initial production lines and other supporting infrastructure. Bhargava said, “We will make more investments as we go forward.”