Thursday 24 March 2011
M&M to invest over $67 mln in new plant in Andhra Pradesh
Mahindra & Mahindra, largest utility vehicles maker in India, will invest more than 3 billion rupees ($67 million) in a new tractor plant in Andhra Pradesh.
The plant will have a capacity to make 100,000 tractors and production will start in 2012, the company said in a statement.
This month, Mahindra said it had completed all formalities related to the acquisition of a majority stake in Ssangyong Motor and will boost product development and brand spends at the South Korean sport utility vehicle maker.
The plant will have a capacity to make 100,000 tractors and production will start in 2012, the company said in a statement.
This month, Mahindra said it had completed all formalities related to the acquisition of a majority stake in Ssangyong Motor and will boost product development and brand spends at the South Korean sport utility vehicle maker.
