Beiqi Foton Motor Co. to Set Up Industrial Park in India.

China's Beiqi Foton Motor Co. Ltd. has signed an initial pact with the government of the western Indian state of Maharashtra to set up an industrial park for Chinese automotive companies, the chief executive of Maharashtra Industrial Development Corp. said.

Bhushan Gagrani said the 1,250-acre industrial park would be built near the city of Pune and is expected to create up to 7,000 jobs. Foton will be the lead company in the project. Details such as the investment and the exact location of the park are being finalized, he added.

Mr. Gagrani also said that Foton has separately sought environmental clearance for setting up a commercial vehicle plant near Pune, and would soon start work on developing the 250-acre facility which would involve investment of about 12.5 billion rupees ($205.4 million).

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