M&M to invest Rs 1000 cr on expansion

Mahindra & Mahindra is planning to invest Rs 1,000 crore on capacity expansion in the next three years, and was also planning to set up assembly units in Russia and Malaysia, according to Pawan Goenka, president (automotive sector) of M&M.

He added that the capital expenditure would also include engine development and capacity expansion at the Uttaranchal plant. 

The company expects its assembly unit in Egypt to start production by the end of the current fiscal with a capacity of about 5,000-6,000 units per year.

"We are also planning assembly units for Scorpio in Russia and Scorpio Pick-Up in Malaysia. A final decision on both the units is expected by December this year, " Goenka said.

The production on the medium and heavy commercial vehicle venture with Intec is expected to start by the end of next year.