Mahindra announces Rs 4,000 crore investment for Chakan plant expansion; conferred as Ultra Mega Project

Mahindra & Mahindra has announced that it would make an additional investment of Rs. 4,000 crore at its Chakan plant in Maharashtra. This additional investment of Rs. 4,000 crore over a 7-year period will take the total investment in Chakan to Rs. 8,000 crores. The Government of Maharashtra has conferred the status of ‘Ultra Mega Project’ for this proposed expansion and a total of Rs. 4,000 crore will be utilized towards infrastructure development, product development and capacity expansion for vehicles to be rolled out from the Chakan plant. There will also be further investment by suppliers to cater to the increased requirement.

Shri Apurva Chandra, Principal Secretary (Industries), Government of Maharashtra and Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra Ltd signed a Joint Declaration in the presence of Shri Prithviraj Chavan, Honourable Chief Minister, Government of Maharashtra, Shri Ajit Pawar, Honourable Deputy Chief Minister, Government of Maharashtra, Shri Narayan Rane, Honourable Minister for Industry, Government of Maharashtra, Shri Sachin Ahir, Honourable Minister of State for Industry, Government of Maharashtra and Mr. Anand Mahindra, Chairman, Mahindra Group and other dignitaries.

Discussing the expansion plans, Mr. Anand Mahindra, Chairman, Mahindra Group, 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 prompted us to take the decision to scale up our world class Chakan plant, making Maharashtra a key partner in our growth over the coming years".

Speaking on the occasion, Dr. Pawan Goenka, Executive Director, Mahindra & Mahindra said, "We are delighted to announce the next phase of our expansion plans at Chakan and would like to thank the Govt. of Maharashtra for their continuous and unstinted support. I am sure that with this expansion, Mahindra will continue to play an integral part in the development of not only the region of Chakan but the state of Maharashtra, as well as the Indian auto industry in times to come”.

Source : CarDekho