Indian auto major Mahindra & Mahindra Ltd have today officially announced that the company will infuse an investment of Rs 4,000 crore over the next seven years in order to expand the capacity of its plant in Chakan near Pune. The proposed investment will take the total investment made in the Chakan plant to Rs 8,000 crore.
A joint declaration in this regard was signed today by Apurva Chandra, principal secretary of industries, Government of Maharashtra and Dr Pawan Goenka, executive director of Mahindra & Mahindra Ltd, in presence of Shri Prithviraj Chavan, honourable chief minister, Government of Maharashtra and Shri Ajit Pawar, honourable deputy chief minister, Government of Mahrashtra.
The proposed investment of Rs 4,000 crore will be infused towards infrastructure development, product development and capacity expansion for vehicles that will be rolled out from the Chakan plant. Furthermore, the Government of Maharashtra has conferred the status of ‘Ultra Mega Project’ to this proposed expansion.
Commenting on the proposed expansion plans, Anand Mahindra, chairman of Mahindra Group remarked, “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.”