Hero MotoCorp to set up two new manufacturing plants

Hero MotoCorp will invest Rs 2,575 crore to set up two new manufacturing plants in Gujarat and Rajastan and an R&D centre by 2013-14.

The company will invest Rs 400 crore for the Neemrana plant, which will have an installed capacity of 7.5 lakh units per annum. This plant will be commissioned in the first quarter of FY 2014. The Neemrana plant will be its forth plant.

The fifth plant will be set up in Gujarat with an investment of Rs 1,100 crore. This will have a capacity of 1.2 million units, the plant would be commissioned by the second quarter of 2013-14.

The company also setting up R&D Center.

At present, the company is in the process of investing Rs 500 crore in capacity expansion of existing plants.