Mahindra's Grand Land Acquisition for Future Expansion
Mahindra & Mahindra is planning to acquire 350 acres of land in Igatpuri, Maharashtra, for potential expansion. The land could support nearby manufacturing plants in Nashik and Igatpuri. The acquisition is part of a broader strategy, which includes expanding production capacity to 7.5 lakh units and exploring new greenfield sites.
- Country:
- India
Mahindra & Mahindra has announced plans to pursue the acquisition of 350 acres of land in Igatpuri, Maharashtra. This move is intended to bolster their existing manufacturing capabilities in Nashik and Igatpuri, as detailed by company executives.
Rajesh Jejurikar, Executive Director and CEO for Mahindra's auto and farm sectors, underscored that the land could establish a supplier park, thereby enhancing operational efficiency. The process is still in the approval phase, according to Jejurikar.
Additionally, Nalinikanth Gollagunta, CEO of the Automotive Division, revealed that Mahindra aims to increase the production capacity of its Chakan plant significantly. The automaker plans to invest Rs 27,000 crore in its automotive business infrastructure over the coming years.
(With inputs from agencies.)
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