Financial Daily from THE HINDU group of publications
Wednesday, Sep 22, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 22, 2004 |
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Corporate
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New Projects Ashok Leyland plans capacity expansion Our Bureau
Chennai , Sept. 21 MR Gopichand Hinduja and Mr Ashok Hinduja of the Hinduja group called on the Tamil Nadu Chief Minister, Ms J. Jayalalithaa, at her residence here on Tuesday. They are believed to have briefed her about the group's plans in the State. The Hinduja group company, Ashok Leyland Ltd, has planned to expand capacity at its plants and also decided to set up a 50,000-tonne per annum foundry at an investment of Rs 150 crore in the State, for which the company would require about 90 acres of land. The new foundry will be an automated one and will also have machining capacity, as the export market requires machined castings. Besides the investment in the new foundry, the company has chalked out a capacity expansion programme entailing an investment of Rs 550 crore over the next two years.
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