Ashok Leyland to invest Rs 3,000 crore in various projects

The Hinduja Group is one of the largest diversified groups in the world. The Hinduja Family contributes to old economy sectors such as Banking, Finance, Transport, and new economy of Technology, Media and Telecom in India.
By: Monika Da
 
March 9, 2010 - PRLog -- Hinduja Group Company’s Ashok Leyland said it will invest Rs. 3,000 crore in the next three years on various projects, including its light commercial vehicle joint venture with Japanese automaker Nissan.

"We had cut back our investment due to the market conditions. Now, we are activating the investment again as the market has come back. We will invest Rs. 3,000 crore in the next three years for various activities," Ashok Leyland Managing Director R Seshasayee told reporters, a day before inaugurating the company's Pantnagar integrated trucks unit.

He said the investments would include the company's share in the LCV JV with Nissan, the construction equipment business (JV with John Deere) and overseas operations (bus facility at Ras-Al-Khaimah).

After the economic slowdown hit the auto market, Hinduja Group’s Ashok Leyland had cut back on the capex announced last year to Rs. 2,000 crore from Rs. 3,200 crore, for three consecutive years.

Seshasayee said the company will start commercial operations at its Pantnagar facility from tomorrow and it will have the capacity to produce 75,000 units at full utilization.
He added, "The centre of gravity for the company will change from South to North (India) after we open the facility tomorrow. We will further consolidate our North India base when we will transform Alwar bus body making unit into an integrated bus manufacturing plant in the next 3-4 years."

About Hinduja Group - The Hinduja Group is one of the largest diversified groups in the world. The Hinduja Family contributes to old economy sectors such as Banking, Finance, Transport, and new economy of Technology, Media and Telecom in India. The Group employs over 40,000 people and has offices in many key cities of the world and all the major cities in India.
The Hinduja Family has always adapted to free-market reforms moving quickly in new markets that have opened, and capitalizing on new economy opportunities. As a result, the Hinduja Group has now strategically positioned itself to contribute to old economy sectors such as Banking & Finance, Transport, Energy (Oil & Power) as well as the new economy of Technology, Media and Telecom.

http://www.hindujagroup.com
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Source:Monika Da
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Tags:Hinduja Group, Hinduja, Hindujas, Hinduja Family, Hinduja Brothers, Global Investment, Investment Banking, International
Industry:International trade
Location:Mumbai - Maharashtra - India
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