Financial Daily from THE HINDU group of publications
Wednesday, Sep 28, 2005

Port Info

Group Sites

Corporate - New Projects

Toyota Kirloskar close to identifying site for 2nd facility

Our Bureau

The Managing Director of Toyota Kirloskar Ltd, Mr Atsushi Toyoshima (right), and Mr K.K. Swamy, Deputy Managing Director (left), with the Karnataka Chief Minister, Mr Dharam Singh, at his residence in Bangalore on Tuesday. — V. Sreenivasa Murthy

Bangalore , Sept. 27

TOYOTA Kirloskar Motor Ltd has come closer to identifying a location for its proposed second manufacturing facility.

Though the company officials did not give any indication, Karnataka Government sources indicated that the company has submitted a proposal for its expansion programme.

The proposal is slated to come up before the high-level committee meeting, to be chaired by the Chief Minister, Mr N. Dharam Singh, here on October 6.

A Toyota Kirloskar delegation led by its Managing Director, Mr Atsushi Toyoshima, met the Chief Minister and the Industries Minister, Mr P.G.R. Sindhia, on Tuesday.

Mr Sindhia, who later met mediapersons, declined to give the details of the meeting or the proposal submitted by Toyota Kirloskar.

A company spokesman described the meeting of Mr Toyoshima with Mr Singh as a courtesy call.

"We keep holding such courtesy meetings every three or four months," he said declining to give details on the company's proposed expansion programme.

Mr Toyoshima had in recent announcements expressed keenness to set up a second facility to double its market share to 10 per cent by 2010 when the total passenger car production in India is expected to reach two million.

However, the company did not indicate the exact location though reports have been appearing about North India or Tamil Nadu as the possible place.

Mr Toyoshima had also said the company needed a volume car to double its market share in five years. The parent company, Toyota Motor Corporation, is yet to finalise its proposal to make a small car.

Toyota Motor Corporation, which chose Karnataka in 1999 to launch its India operations through its joint venture partner Toyota Kirloskar, has so far invested Rs 1,500 crore to build a 60,000-per annum facility.

Toyota's multi-utility vehicle Innova and its executive segment car Corolla are manufactured here, while Camry and Land Cruiser Prado are being offered in India as completely built units.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Tata Safari Dicor

Stories in this Section
OTS for Hyderabad Flextech

Global Steel Holdings in consolidation mode
SAAG RR bags Rs 6.92-cr NTPC order
Aurobindo gets USFDA nod
L&T Oman arm bags Rs 165-cr order
Ansal to pay 5% final
Chatterjee Group charges Bengal Govt, HPL with mismanagement
CESC closes global depository shares offer
Kanishk Steel to merge 2 group cos with itself
Kanoria Chem plans Rs 150-cr expansion
Toyota Kirloskar close to identifying site for 2nd facility
CRV Consultants plans to launch operations in Hong Kong
Ranbaxy enters into in-licence pact with Lupin for TB drug — Drug to be marketed in West, North Africa
TNT gets IIP accreditation
Jet Airways awaits nod for US flights
IOC optimistic of equity oil stake in Nigeria
Maruti plans to roll out new version of Baleno
Bachkaniwala is new chairman of TMMAI
Dr Reddy's founding MD dead

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line