Mahindra & Mahindra to Invest More

The business enterprise Mahindra & Mahindra in the recent days has signed a memorandum of understanding with Maharashtra government with the objective of expanding investment in its imminent Chakan project. To the latest information the company is determined to invest a sum if Rs. 1,500 crore, besides the Rs 2,500 crore already invested. The total amount of Rs 4,000 crore will be utilized for both the development and production of all vehicles known to be rolled out from the proposed greenfield project. The chief goal of the already famed Chakan project is to fabricate medium and heavy commercial vehicles, along with the joint venture company Mahindra International.

Pawan Goenka, President, Automotive Sector of Mahindra & Mahindra said, "We had decided to make the state the launch pad for our commercial vehicles. The additional investment plan of Rs 1,500 crore, will allow us to create a world class manufacturing facility for 3,00,000 vehicles."

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