Processing .....please wait.. 
The article has been forwarded.... 
Mahindra opens defence vehicle plant in Haryana
By
IANS
| Tuesday,17 March 2009, 20:08 hrs
|
New Delhi: Auto major Mahindra and Mahindra (M&M) Tuesday inaugurated a defence-vehicle manufacturing plant in Haryana's Prithla region.
The Rs.400-million (Rs.40-crore) facility is expected to roll out 200 vehicles by year-end.
"The company is also looking for a long-term strategic partner for its naval business," Mahindra chief executive Khuttub Hai told reporters.
The factory, which started production in January, will initially build armoured version of Mahindra's Scorpio and Bolero sports utility vehicles (SUV).
Later, the plant will produce Axe military vehicles as well as mine-shielded vehicles.
Mahindra's defence vehicle business is targeting a revenue of Rs.20 billion in five years from Rs.1 billion currently.
The Rs.400-million (Rs.40-crore) facility is expected to roll out 200 vehicles by year-end.
"The company is also looking for a long-term strategic partner for its naval business," Mahindra chief executive Khuttub Hai told reporters.
The factory, which started production in January, will initially build armoured version of Mahindra's Scorpio and Bolero sports utility vehicles (SUV).
Later, the plant will produce Axe military vehicles as well as mine-shielded vehicles.
Mahindra's defence vehicle business is targeting a revenue of Rs.20 billion in five years from Rs.1 billion currently.
Recent posts from Business news
- Airtel brings iPhone 3GS to India
- HP slate likely to cost $45 more than iPad
- Bharti ties up with Kuwait's Zain Telecom
- Canadian universities line up for India
- Organizations embracing Windows 7
- 'Desi' mobile phone brands worry MNCs
- Scientist invent invisibility cloak to hide objects
- Bharti ties up with Kuwait's Zain Telecom
- Bank told to pay $22,900 for negligence
- Cipla to replace Sun Pharma in Sensex
- IT firms' new cost cutting mantra: Hire non-techies
- By 2030 India will be most educated: Sibal
- Will foreign varsities poach IIT, IIM profs?
- Top IT skills that can get you a better job
- Scientist invent invisibility cloak to hide objects
- 10 most popular incentives that firms offer
- Terrorists to use our cell numbers for terror act
- We are a respected Indian firm: Infy CEO
- Approaching a VC? Here is a checklist
- Canadian universities line up for India
