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Ford Confirms Plant In Gujarat, To Invest 4000 Cr
The Gujarat state government lead by Narendra modi signed an agreement with Ford India according to which the American carmaker will be provided 460 acres of land in Sanand. Mr. Maheshwar Sahu, Principal Secretary (Industries), and Mr Michael Boneham, Ford India"s President and Managing Director signed the MOU in the presence of Mr Narendra Modi and Mr Joe Hinrichs, President, Ford Asia-Pacific and Africa.
Ford has said it would build two manufacturing plants with annual production capacities of 2.4 lakh cars and 2.7 lakh engines. Ford will begin construction of the two plants before the end of this year and production is expected to begin in 2014. Ford's plans to expand production in India has finally borne results.
When asked about the details on how much the government was charging for the allotted land, Ford officials only said: “The Gujarat Government has a transparent policy of offering incentives and packages for such projects and we have adhered to this policy." Following the construction of the Tata Nano plant in Sanand, land prices have increased exponentially.
Ford India has said its new plant in Sanand will create employment for 5,000 people directly. More jobs will be created if part makers also set up plants around Ford's plant. This also appears to be a certainty as the Gujarat government has already set aside land adjacent to Ford's site for part makers.
Ford India said it could now concentrate on the North Indian car market in a better way once its plant in Sanand becomes operational. The company is yet to decide on how the Sanand plant can be used for exports.
Ford India currently builds its Fiesta, Figo and Endeavour SUV at its plant in Chennai. The company is looking to launch several new models in India and the Sanand plant can build some of them. We had earlier reported that Ford's plants in Chennai were already running at close to full capacity.
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