New Delhi: The country’s biggest carmaker Maruti Suzuki India (MSI) has bought land in Gujarat for its fourth plant, keeping in view of doubling annual production capacity to as much as 3 million units, media reports said.
Maruti Suzuki (MSI) Chairman R C Bhargava, earlier said that the company had purchased land to set up a new facility with capacity of about 750,000 a year.
"We have land at two locations in Gujarat. The first one is offered by the government and the second one is a private land that is directly acquired by us with some negotiations by the government," Bhargava said.
The company had acquired about 600 acres, located about 40 km from the first site near Mehsana, he added.
According to the report, the fourth plant will begin production in 2017 and will focus on increasing exports to Europe and the Middle East.
Maruti Suzuki earlier in December said it had started spadework to set up its second facility in Gujarat, in addition to its existing plan to invest Rs 4,000 crore for setting up a plant in the state.
The company also said it expects about 6-7 percent sales growth in 2013-14 after closing the current fiscal with about 6 percent rise in vehicle sales.
The country's largest car maker also said it will not enter the premium segment of passenger cars in India and will "protect" its image of a small car manufacturer.
With Agency Inputs