08.21.06
Mahindra & Mahindra investing Rs 1,500 cr in Maharashtra
Mahindra & Mahindra investing Rs 1,500 cr in Maharashtra
Mahindra & Mahindra has shortlisted four states Maharashtra, Tamil Nadu, Andhra Pradesh, Uttranchal and Karnataka. The company is planning to invest Rs 1,500 crore in next 2-3 years, under its automobile, infrastructure and information technology business in Maharashtra.
The company has signed an MoU (Memorandum of Understating) with the Government of Maharashtra State for extending its Nasik facility for manufacturing its multi purpose vehicle “Ingenio”, with an investment of Rs 550 crore. The project will just double the capacity of the company. Mahindra & Mahindra has planned two SEZ in Maharashtra, one near Pune which will bring in Rs 1000 crore and a Biotech SEZ in Thane will fetch Rs 150-200 crore. The total investment would be around investment to around 1500 crore. The automotive division of M&M is also in talks with Indian Institute of Technology, Kanpur for developing a bio-diesel technolgy.