"The Jaipur project will cost Rs 2.5 billion ($58.8 million). The entire management of Bosch has high expectations from this plant," Mico chairman H Zimmerer said.

This would be the company's company's fourth plant in the country. The plant would manufacture fuel injection equipment for cars and supply components to the domestic and overseas markets, Zimmerer said. The company's managing director H Berthling said the plant would make parts of international quality.