MARUTI SUZUKI ANNOUNCES PLANS TO INVEST BILLIONS IN GUJARAT – 350 billion rupees to be invested to build a second car plant in western Gujarat state
India’s top carmaker Maruti Suzuki will invest 350 billion rupees to build a second car plant in western Gujarat state and will add a new production line at an existing plant, the president of its parent company has said.
The carmaker will also invest 32 billion rupees to add a new production line in the state, Toshihiro Suzuki said at the Vibrant Gujarat Global Summit, which was attended by several heads of state including United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan.
Also speaking at the investment summit was Gautam Adani, the head of Indian conglomerate Adani Group, who announced plans to invest 2 trillion rupees in five years in the green energy and renewable energy sectors in what is Indian prime minister Narendra Modi’s home state.
The summit is part of Modi’s final push to attract more investment in the country before a national election in which he will fight for a third term and is widely expected to win.