India’s largest two wheeler manufacturer, Hero MotoCorp, currently has three manufacturing units and now they’re all set to build their fourth plant in Gujarat. The company has looked into a 300acre land near General Motors Halol plant in Gujarat and they will invest Rs. 1,200 crores for this project. The company will officially announce the plant within a month.
Managing Director & CEO of Hero MotoCorp Pawan Munjal said, “Within this month, I should be making the announcement for the new plant. It will get to those levels (as Haridwar plant’s 2.5 million unit annual capacity), but will have modular capacities.”
Earlier, the company had plans to set up a plant near Sanand, where many of the auto companies are present, but to have a balanced growth they have shifted on the location to Halol. Construction work is expected to conclude by 2014.
Hero Motocorp Ltd will also invest some money for their existing plant to expand their capacity to 7.4 million units a year.
The company’s fifth plant will be set up in Dharwad, Karnataka. This plant will be spread across 500acres of land. The motorcycles manufactured in this plant will mainly cater the South Indian market and export.