TVS, one of India's biggest two-wheeler manufacturer, is planning to set up a second plant, in Himachal Pradesh, to manufacture engines.
R Ramakrishnan, the Director of TVS Motor Company said, "We are planning to invest Rs.150 crore in Himachal Pradesh for setting up a new engine plant. We have already submitted application to the government for the facility."
The company is planning to construct the new plant spread across 50 acres close to its existing facility in Nalagarh in the Solan district.
In 2007, the company started operations in its first manufacturing unit in Himachal to cater to the northern and central markets of India. Including the latest plan, the total investment made by TVS in Himachal would be around INR 270 crore.
The company is also looking forward to double its production capacity in a year's time.
The Director said, "We are getting tremendous support from the HP Government. We have applied for 50 acres of land, and expect to get clearance for the new facility soon."
Appart from two facilities in Himachal Pradesh, TVS has two more facilities in Mysore and Hosur.