Maruti acquires additional land in Gujarat
/ 0
- Business & Industry
- Wednesday, 19 December 2012 16:21
- Published on Wednesday, 19 December 2012 16:21
- Hits: 739
Gujarat Global News Network, Ahmedabad
India’s biggest car maker Maruti’s romance with Gujarat continues to grow with the auto giant purchasing additional 500 acres of land in Ahmedabad district.
Maruti Suzuki India Limited (MSIL) has acquired an additional 500 acres of land in Mandal taluka of Ahmedabad district which is around 20 kilometers away from Hansalpur, where the car maker will invest Rs 4,000 crore for its plant spread across 640 acres. The acquired land will be used as a vendor park.
A few months ago the company had approached the government of Gujarat to give it more land. Originally, when it had entered negotiations with the state government, Maruti wanted 1,500 acres of land. However, what it only got was about 640 acres, which it felt would not be enough for the company.
In August, MSIL paid the first installment of Rs 22 crore for the 640 acres of land allotted to them at Hansalpur in Ahmedabad. The land was allotted at Rs 673 per square metre and the company was to make payments in eight installments totaling to around Rs 175 crore.
MSIL has already awarded contract for building the outer wall of the earmarked area for the plant with an annual capacity of 2.5 lakh cars. The company will most likely begin construction by mid next year. The MSIL board is mulling over the idea of rolling out its all new diesel car from Gujarat.
“For news in Hindi see our Hindi daily Chaupal Chronicle”
