Maruti Suzuki to set up manufacturing plant in Guj; ₹4,960 cr plan okayed
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Maruti Suzuki India (MSIL) on Monday said its new car manufacturing plant, the company’s fifth, will be located at Khoraj industrial estate in Gujarat’s Gandhinagar district.
In a notice to the BSE, the company stated that the investment required for this plant will be finalised and approved by its board of directors while framing the phases of installation of capacity.
“The cost of land acquisition, development and preparatory activities approved by the board is ₹4,960 crore,” it added.
India's largest carmaker had in January 2024 announced that it will set up a new car manufacturing plant in Gujarat, with an annual production capacity of 1 million units and at an investment cost of about ₹35,000 crore. This new plant is expected to start operations in 2028-29, it had added.
Currently, MSIL has a total annual production capacity of 2.4 million units at its four plants, which are located at Gurugram in Haryana, Manesar in Haryana, Kharkhoda in Haryana and Hansalpur in Gujarat.
MSIL plans to secure a production capacity of about 4 million units in India by 2030-31 to prepare for future expansion of the automobile market. The expansion of the Kharkhoda plant as well as the Hansalpur plant, and the new plant at Khoraj will help the company achieve the 4-million-unit milestone.
MSIL is currently establishing a new production line in the Hansalpur plant at a cost of ₹3,200 crore to increase its manufacturing capacity from 750,000 units to one million units. The new line will start operation from 2026-27. The company is also establishing a battery manufacturing plant in Hansalpur at an investment cost of about ₹7,300 crore.
MSIL started the Kharkhoda plant last year, with an annual production capacity of 250,000 units. The plant will gradually be scaled up in phases to have an annual capacity of one million units.
In order to prepare itself for the future, MSIL had in October 2023 announced that it plans to invest approximately ₹1.25 trillion in total capital expenditure (capex) between 2023-24 and 2030-31. Out of this, around ₹45,000 crore will be allocated for expanding annual production capacity by 2 million units in the same time period.
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