Maruti Suzuki to set up new manufacturing plant in Haryana
New Delhi . Country’s leading carmaker Maruti Suzuki India (MSI) said it will set up a new manufacturing facility in Haryana for which it will invest Rs 11,000 crore in the first phase. MSI informed the stock exchanges about the new manufacturing plant.
Accordingly, the company has completed the process of allotment of 800 acres of land at IMT Kharkhoda in Sonipat district. For this the company has tied up with Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC). The company said the first phase of the new plant is expected to be completed by 2025. It will have a production capacity of 2.5 lakh units per year. Administrative approvals related to the construction of the new plant are yet to be taken. MSI said it will invest over Rs 11,000 crore on the first phase of the plant. The company said the Sonepat manufacturing plant will also have room for capacity expansion in the future.
At present, two Maruti Suzuki plants are operational in Haryana and Gujarat with a total capacity of about 5.5 lakh units per annum. MSI president RC Bhargava said the Rs 11,000 crore investment includes the cost of land, setting up of initial production lines and setting up all other supporting infrastructure.
Without sharing any financial details, Bhargava said, “We will invest more as we go forward.” He said that this plant will help the company to meet the growing demand in the times to come. The new plant will replace the company’s plant in Gurugram. This new plant is under preparation and it will meet the demand generated from now till 2025. I don’t know how the demand will be ahead of him.
We can shut down the Gurugram plant only if the demand doesn’t increase and we don’t need the additional capacity. It is not possible to share long-term plans due to uncertainties related to market growth in the future, he added. The company had earlier indicated that the new plant would replace the Gurugram plant, which has been facing serious congestion issues. Asked whether the new plant can be used to manufacture electric vehicles, Bhargava said it could happen.