Hero Set To Invest INR 1600 Crore In Their Fifth Facility

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Hero MotoCorp is India's largest growing two wheeler manufacturer. They have a wide range of scooters and motorcycles to offer their customers. At the recent 2014 Auto Expo held in New Delhi the Indian manufacturer displayed an array of its forthcoming products.

The Indian manufacturer does not only want to grow in India, it plans to expand its roots across the globe. Hero MotoCorp had recently announced it had set the ground stone for its Columbia facility. They have also showed their intention to enter the Brazilian market.

Hero MotoCorp is set to commence work at their fourth facility in India at Halol, Gujarat. The facility will be ready by 2015-2016 and will begin production post that. The Indian two wheeler manufacturer has also signed a deal for its fifth facility in India.

The fifth facility will be situated in Andhra Pradesh and was offered with a complete exemption of VAT. Hero MotoCorp will benefit from no Value Added Tax on the two wheelers produced in Andhra Pradesh. The new facility will also create employment opportunities for many in the state.

Hero MotoCorp will be investing INR 1600 crore in their fifth facility. The Andhra Pradesh facility will be located at Chittoor near SriCity industrial park. The state government has allotted Hero MotoCorp 600 acres of land for their fifth facility in India.

The Indian two wheeler giant has currently three ready facilities in India. They are at Gurgaon, Haryana and Uttarakhand, while two new facilities are coming up in Gujarat and Andhra Pradesh. They currently have a maximum capacity of producing 7 million vehicles, however, with the addition of two new facilities they plan to boost production upto 10 million vehicles.

Story first published: Wednesday, September 17, 2014, 11:59 [IST]
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