Gujarat Global News Network, Gandhinagar
After General Motors exit from Halol, Chinese auto gaint Shanghai Automotive Industries Corporation (SAIC) will set up its manufacturing plant in Halol in Central Gujarat. The company will invest Rs.2,000 crore and intends to provide employment to more than 1,000 people.
The company will roll out its vehicles from 2019. The company will manufacture 50 to 70,000 cars in the first phase. The company has a manufacturing unit in Haryana and this will be its second plant in India. Besides it has its units in US, UK, Germany, Thailand and Hongkong.
Five ancillary units will also set up plants in the state providing direct and indirect employment and business opportunities. These are Yan-feng, Huichoung, Waling industry, Ling Yung and Sevic.
For the plant SAIC signed a memorandum of Understanding (MoU) with the state government. The MoU was signed by compnay’s India director and Principal Secretary (Industries) Manoj Das in the presence of Chief Minister Vijay Rupani.
SAIC is a fortune 500 company which produced 5.9 million vehicles and had 106 billion dollar revenue in 2015.
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