Industry & Economy
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Disinvestment
Suzuki Motor chief calls on Chidambaram
Our Bureau
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The meeting comes at a time when the company is firming up plans to set up its second plant in Haryana.
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New Delhi
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Sept. 8
THE Suzuki Motor Corporation Chairman, Mr Osamu Suzuki, on Thursday called on the Finance Minister Mr P. Chidambaram, within a week of the Government deciding to sell 8 per cent of its equity in Maruti Udyog Ltd.
Sources described the meeting as a courtesy call. Mr Suzuki also met the Heavy Industries Minister, Mr Santosh Mohan Deb, and the Commerce Minister, Mr Kamal Nath.
The meeting comes at a time when Suzuki Motor Corp is firming up plans to set up its second plant in Haryana for almost doubling production, besides planning a separate venture with Maruti Udyog to manufacture diesel engines and gear boxes at an investment of over Rs 3,200 crore.
Mr Suzuki is in India on a three-day visit and during the period would be visiting the company's investments in the country. He visited Suzuki's motorcycle plant in Haryana on Wednesday, which is set to commence operations in October this year with the launch of a 125-cc bike. Mr Suzuki would also be attending the Maruti annual general meeting slated for Friday.
Mr Suzuki's visit to India comes days after the Government decided to sell 8 per cent of its stake in Maruti Udyog to domestic financial institutions and banks. The Government holding will reduce to 10.28 per cent after the disinvestments.
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