Wednesday, 21 September 2011

WABCO India reveals Rs 60 Crore Investment plan




Belgium-based WABCO Holdings has embarked upon a Rs 60 crore investment plan for its Indian operations during this financial year, a top company official said.

WBACO TVS has now been named at WABCO India in line with the agreement with TVS group.
About their proposed plans in India, WABCO India whole-time Director P Kaniappan said "Rs 60 crore has been announced for this year's capital expenditure plans. We will invest around Rs 40 crore for expanding our facility at Mahindra World City SEZ in Chennai and another Rs 10 crore for setting up a facility at Lucknow. The remaining would be utilised for other purposes." 

"We will invest Rs 10 crore in this facility (Lucknow). Right now, the land has been acquired.. Mostly it will be an assembly plant for us. It will be catering to (vehicle manufacturers) like Tata Motors and Ashok Leyland," he said. 

The company has 7,000 outlets in India and can use TVS Brand name till June 2012. "It will be smooth transition for us (from WABCO TVS to WABCO India)..even now we have their support..," he said.

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