Finance HomeNational
Volkswagen roll-out from Pune plant ahead of time
Monday, October 06, 2008 21:39 [IST]
New Delhi: German automobile major Volkswagen will roll out passenger cars from its greenfield plant in Pune six months ahead of schedule, head of German state of Lower Saxony, Christian Wulff, said today.

"We had a great experience as far as India is concerned. The new plant in Pune is coming up six months earlier than its plan," Wulff told reporters here on a question whether Singur issue will affect their future investment plans.

Earlier in the day, Wulff met Commerce and Industry Minister Kamal Nath.

Nath said the Singur was an "isolated incident" and has not dented the enthusiasm of Volkswagen. "We met a delegation (German). They have no problem," he said, adding that India is seeking more ancillaries for the Volkswagen.

The industry chambers had warned that a wrong signal is going out to foreign investors after the Tatas announced pull-out from Singur in West Bengal following prolonger violent protests.

Volkswagen is investing 300 million dollars over a 500 acre site at Chakan near Pune. The plant to be operational in 2009 will produce small cars.

"By 2010 we have plans to produce about one lakh cars and will ramp up this figure to three lakh," Wulff said.
Source : PTI

 Post Your Feedback   
Name
Email ID
Comments
 Other Features
News today
Press Releases
Stock Research
Market Tools
Print this page
Mail this page
Archives

  
More Finance News
BSE to alter its transaction fee
Intel pays $1.25 bn to settle a...
Firefox celebrates five years
Google to buy AdMob for $750 mn
New norms of SEBI
Worst is over- Mahindra Satyam
Wanna know corporate secrets?
A doller story through doller's...
Indian trader bamboozles Aussie...
Indian economy will expand by March...
Now, what happned Sirjee?
India to wind-down fiscal stimulus:...
US,China joining hands: beware...
Nano used-car premiums fizzling out
RBI buys 200 metric tonnes gold...
Park to replace Hyundai chief
Wills Lifestyle to tweak...
US stock sin by almost 3pct.
Oil prices sink
Kingfisher Airlines posts loss of...
Wipro net profit up 19 percent in...

    WORTH A CLICK
  Sarees
Baby Clothes
Jewellery
Bluetooth Headsets
Health & Fitness