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Peugeot Re-Entering The Indian Car Market
For the probable re-entry in Indian car market, Peugeot is on securing facility structure in the areas of Andhra Pradesh and it has already surveyed two sites Sri City in Chittoor district and Sitarampet in Ranga Reddy district. Then, the company will place its proposals to the state government during the ensuing calendar year.
The officials from Peugeot met the state government officials in this regard for possible negotiations. Once the deal is stuck, the company may be willing to invest Rs10000 crore on phases- Rs1500 crore for first phase and provide job facility to nearly 10000 personnel. On entering into the deal with the state government, Peugeot is expected to avail 900 acres of land, Rs600 crore interest free loan, 100% reimbursement of VAT for 21 years.
Further facilities that the company may seek are roads, power, water and other essential needs. Peugeot for entering the Indian car market is seeking more such incentives, better than what the Tamil Nadu or the Gujarat government will offer. The initiative to set up the facility has been in the air for more than two years but faced slackening due to the unexpected death of the then Chief Minister.
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