Ford announces 500 mln usd investment to expand India operations UPDATE |
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Tue, 08 Jan 2008 08:53
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(Updates with Ford's interest in India; Jaguar and Land Rover sale)CHENNAI, India (Thomson Financial) - Ford Motor Co has announced it plans to invest 500 mln to expand its India operations.The investment will fund the expansion of Ford India's current manufacturing facility in Chennai -- due to begin production of a new small car within the next two years -- and the construction of a fully integrated and flexible engine manufacturing plant, to be operational by 2010.Ford, which claims to have an 'aggressive and comprehensive growth strategy' for India, said its latest investment increases its total financial commitment in the country to 875 mln usd, with the new facilities tipped to create around 9,000 jobs.On Jan 3, Ford said it is committed to focused talks with India's Tata Motors over the sale of its Jaguar and Land Rover premium brands. Tata Motors is the largest car manufacturer in India and has global plans to expand its passenger range, currently limited to small and medium-sized cars and SUVs.tf.TFN-Europe_newsdesk@thomson.comhjp/ajbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Ford announces 500 mln usd investment to expand India operations 