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M&M to build new facility in Nasik.

Auto Business News-13 August 2008-M&M to build new facility in Nasik(C)2008 ENPublishing -

Auto Business News - 13 August 2008(c)2005 - Electronic News Publishing -

Mahindra and Mahindra (BSE: 500520) (NSE: M&M), an India-based automaker, is constructing a new manufacturing unit at its Nasik plant.

The facility is to produce a multi-utility vehicle named the Ingenio. The company is investing INR5bn in the project and is likely to launch the new vehicle in the Indian market by 2008.

According to the automaker, 'With this additional investment the production capacity at the existing plant at Nasik will increase to 150,000 vehicles per annum and will generate employment for over 500 people.'

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Publication:Auto Business News (ABN)
Date:Aug 13, 2008
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