Maruti Suzuki to invest Rs11,000 crore in first phase for new manufacturing plant in Haryana; Stock soars 2%

16 May 2022 , 09:16 AM

Maruti Suzuki has been in discussion with the Government of Haryana for investment in a new manufacturing site for its proposed capacity expansion.

As per the regulatory filing, on May 13, 2022, the Company completed the process of allotment of an 800 acres site at IMT Kharkhoda in District Sonipat with HSIIDC (Haryana State Industrial and Infrastructure Development Corporation Limited).

The first plant with a manufacturing capacity of 250,000 vehicles per annum is expected to be commissioned within the year 2025 subject to administrative approvals. In the first phase, the investment would be over Rs11,000 crore. The site will have space for capacity expansion to include more manufacturing plants in the future.

On Monday early trade, Maruti Suzuki was trading at Rs7231.55 per piece higher by 1.83% on the BSE.