Ford India goes ahead with expansion plans

Chennai: Ford India’s CFO and Wholetime Director, Mr G. Parthasarathy, said that the $500-million project announced in January 2008 is going as planned.

According to earlier reports, about 70 per cent of the investment will come from the parent company in the US as equity and the rest is managed through internal accruals and debt by Ford India. Despite the slowdown in the US, there is no dearth of funds from the headquarters.

The project will be completed by early 2010. The expansion programme will double its vehicle manufacturing capacity to 2 lakh units a year and add an engine manufacturing facility with a capacity to make 2.5 lakh engines annually. The engines will be for captive consumption and exports.