Peugeot to set up Rs4,000 cr plant in Gujarat | autos | Hindustan Times
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Peugeot to set up Rs4,000 cr plant in Gujarat

The Gujarat government's ambitious plan to make Sanand as country's most preferred auto hub received boost on Thursday when French car maker Peugeot signed a formal agreement to set up a manufacturing facility in Sanand.

autos Updated: Sep 01, 2011 21:14 IST
HT Correspondent

The Gujarat government's ambitious plan to make Sanand as country's most preferred auto hub received boost on Thursday when French car maker Peugeot signed a formal agreement to set up a manufacturing facility in Sanand.

"Under the framework of this agreement, Peugeot plans to invest Rs4,000 crore on a 600 acre site in the heart of the rapidly developing Sanand automotive cluster in Western India," the company statement said.

The agreement was inked between the Gujarat government officials and representatives of PSA Peugeot Citroen in the presence of chief minister Narendra Modi and Philippe Varin, chairman of the managing board of PSA Peugeot Citroen.

Peugeuto will build a manufacturing facility, integrating body paint and assembly operations with an initial capacity of 1,65, 000 vehicles per year, to become operational in 2014.