Published On:August 24 2016
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Volvo set for Rs 300-crore expansion; scouts for land.
Volvo India Private Ltd (VIPL), an Indian arm of the Swedish commercial vehicle major, is scouting for additional land near Bengaluru to expand its operations. The company currently operates its truck and bus manufacturing plants at Hoskote on the outskirts of Bengaluru.
“We are looking for an additional 30-40 acres land near our existing facility to create new capacity and other infrastructure facilities to support our manufacturing operations. We need to develop a test track for our heavy commercial vehicles,” Kamal Bali, managing director, VIPL, told FE.
He said the firm is in the process of investing R300 crore for various expansion programmes. It has doubled manufacturing capacities at its construction equipment, trucks and bus facilities. It can now manufacture 10,000 trucks, 2,000 buses and 4,000 construction equipment in Bengaluru. It has three plants for each of these products. The additional land being acquired near its Hoskote plant will be utilised to create additional facilities keeping in mind the growth plans of the company for the next five years. “We are bullish on India as a market. The recent infrastructure projects announced by the NDA government will give a boost to the commercial vehicle and construction equipment business,” Bali said.