Japanese
auto major Toyota Motor Corporation (TMC) will invest an additional Rs
800 crore in its small car plant coming up at its facility in Bidadi near
the city.
Speaking to reporters here; Industry Minister Murugesh
R Nirani said the company had begun the expansion of its second plant
to build the small car for the Indian market at a cost of Rs 3,200 crore.
''Toyota has agreed to invest an additional Rs 800 crore in the second
phase of expansion,'' he said. A company official confirmed the additional
investment but said the company had sought an additional 40 acres of land
near the plant for the ancilliary industry.
Toyota is manufacturing the popular MUV Innova and mid-segment
luxury car Corolla Altis. It is also offering the imported lucury sadan
Toyota Camri. The first plant, set up in 1999, has an installed capacity
of one lakh units per annum. It currently employs about 2,800 people.
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