Kochi likely to get Volkswagen factory

Tuesday, 26 August 2003, 07:00 Hrs
Printer Print Email Email
THIRUVANANTHAPURAM: German carmaker Volkswagen is expected to start a factory in Kochi, with a likely investment of 20 billion - making it Kerala's biggest investor.

A company delegation was in the port city recently to inspect a 25-acre plot, where a Hindustan Machine Tools factory stood earlier, a leader of the ruling Congress party told IANS.

"The land will be handed over to them. The government is eager to have Volkswagen in Kochi," the leader said.

Reports indicate that giant car companies like Audi and Nissan have also expressed a desire to set up shop in Kerala.

The biggest advantage Kochi has is the presence of an international airport and the Kochi port located next to it.

According to Kerala officials, initially the company has proposed to assemble broken down kits imported from Germany and thereafter start production.

Source: IANS
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..