Ford to invest $500 mn for India operations

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With plans to produce a small car in the next two years, global automobile giant Ford Motors announced that it would invest 500 million US dollars in the next three years to expand its Indian operations.

Ford Motors executive Vice President (Asia Pacific and Africa) John Parket told a press conference that the investment had already been put in place and would be completed in the next three years.

The company would also come up with a state-of-the art fully integrated engine manufacutring plant, capable of manufacturing next generation diesel engines and petrol engines, with an installed capacity of 2.5 lakh units. "The facility will be commissioned by 2010," he said.

The diesel engine assembly plant manufacturing unit would be commissioned in April and would be used in the Fiesta and Fusion variants, he said.

The investment would help the company expand manufacturing capacity to 2.5 lakh cars from the present two lakh cars, he said.