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| Vibgyor Vehicles to set up assembly plant in Gujarat |
| BS Reporter / Mumbai/ Ahmedabad Jul 09, 2009, 00:16 IST |
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Kolkata-based Vibgyor Allied Industries Limited’s flagship company, Vibgyor Vehicles, is planning to set up a two-wheeler assembly unit in Gujarat. The company, which recently launched its first bike ‘Gallop’, is currently scouting for land and intends to invest around Rs 50 crore in the proposed plant.
“Currently, we manufacture around 300 units per day out of our Dhulagori plant in West Bengal. We plan to expand our manufacturing capacity for which we are planning three more assembly units in the northern, southern and western regions. While we are yet to zero in on locations in northern and southern regions, we are scouting for land for setting up a plant in Gujarat for the western region. We will soon initiate talks with the Gujarat government,” said Mrigen Banerjee, vice-president, Vibgyor Vehicles.
Having recently launched its 100cc bike in Gujarat, the company is expecting to sell around 2,000 units in the first three months. “We are planning to launch our 125cc model ‘Hunter’ and 150cc model ‘Shark’ shortly. We also plan to set up a 521-strong dealer network by 2009-10,” Banerjee said.
Aspiring for a pan-India presence, the company is investing around Rs 660 crore for expansion in automobiles. In the entry level 100 cc bike category, Vibgyor Vehicles holds a five per cent market share, Banerjee said.
Meanwhile, Vibgyor Allied Industries Limited will also be investing around Rs 800 crore over a period of two years in sectors like real estate, PVC pipes and film production. "The group may take up real estate projects in Gujarat in the near future. The group also sees possibilities for setting up PVC pipes business in the state," Banerjee added. Last year, Vibgyor Industries pegged a turnover of Rs 300 crore.
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