Last Updated: 4/11/2017 2:38:00 AM
Mahindra & Mahindra, India's leading
automobile manufacturer,on Friday announced
that it plans to make an investment of Rs.
1,500 crore at its Nasik and Igatpuri plants in
The project constitutes development and
manufacture of its new product codenamed
U321, covering joint investment at Nasik and
The investment in the Nasik plant will be
towards manufacture of vehicles, while
investment in the Igatpuri plant will be for
manufacture and supply of engines.
The projects will qualify as Ultra Mega Project.
Discussing the companys expansion plans, Dr.
Pawan Goenka, Managing Director, Mahindra
Mahindra Ltd. said, The Mahindra Group would
like to express its deep and sincere gratitude to
the Government of Maharashtra for its visionary
industrial policies and efficient governance
practices. This has enabled us to undertake the
next phase of our expansion plans at Nasik. We
would like to thank the State Government of
Maharashtra and local bodies for their
continuous and unstinted support. I am sure
that with this expansion, Mahindra will continue
to play an integral role in the development of
not only the region of Nasik but the entire state