Hero MotoCorp, India's largest two wheeler manufacturing company, all set to announce its fourth plant in Gujarat. The company will invest Rs. 1,200 crores in this upcoming plant which will be located near by General Motors Halol plant in Gujarat. Hero Motocorp will announce the plant officially within a month period.
The company has identified 300 acres of land near the GM car plant. It will be built in two phases and once it will become fully operational, it will produce two million units a year. Earlier, the company wanted to build plant near Sanand which is emerging as Auto hub in Gujarat. Tata Motors, Ford and Peugeot have facilities in Sanand.
"Within this month, I should be making the announcement for the new plant. It will get to those levels (as Haridwar plant's 2.5 million unit annual capacity), but will have modular capacities." said Mr. Pawan Munjal, who is the Managing Director & CEO of Hero MotoCorp.
Munjal also said "Some investments are being made at existing plants, so capacity should go up to over 7.4 million units in the existing operations. We're also working on a centre for after markets parts" The company is thus all set to keep their first position this year also.
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