Friday, July 29, 2011

Ford Motor Co to build billion dollar plant in Gujarat, Ford's Upcoming Plant in Gujarat Location, Details, Gujarat bags ford's billion dollar plant

Ford Motor Co plans to build a $900 million production plant in India, doubling its investment in the country, as the U.S. carmaker seeks to catch up with rivals in the second-fastest growing auto market in the world.

Ford's planned factory in Sanand, in the business-friendly state of Gujarat, will be running by 2014 and employ 5,000 people.

Ford's largest single investment in India follows the success of its India-built Figo model, which helped the group nearly triple its sales last year, the FT reported.Boneham said the company currently has four plants under construction in China and one in Thailand, apart from the ones in India.

"Lots of foreign players are only now realising what the India auto market offers them. Since the industry has evolved in the last 3-4 years, they are falling short of capacity and are now ramping up," said Vineet Hetamasaria, an auto analyst at PINC Research in Mumbai.

The company, which also sells the Fiesta sedan, recently said it would invest $72 million to increase production capacity at its engine assembly plant in Chennai to support its sales and export growth plans.

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