Peugeot to sign MoU with Gujarat govt for car plant today

Gandhinagar, 1 September, 2011

The government of Gujarat is all set to sign MoU with Peugeot Group of Companies for car manufacture plant.

MoU signing ceremony will take place today at 4.00 pm.

Sources said the plant will bring Rs 4,000 crore investment to Gujarat. The plant will come up over 500 acre land near Sanand where Tata Motors plant is located and Ford motors plant is in process of construction.

It should be mentioned that officials of France’s major car manufacturer ‘Peugeot’ led by Mr. Gregoire Olivier, CEO(Asia) and Mr. Fredric Faber, MD(India) had called on Chief Minister Mr. Narendra Modi in last June and expressed their desire to set up a car making plant in the state.

-Peugeot’s project will come up over 400 acres land while the rest 100 acre land is likely to be used by the vendors of the company. The plot will be used in a phased manner.

-The land is a part of the 2,251 acres Anand Agriculture University land(till October 2008). About 1,100 acre land of same university was given to Tata Motors for Nano car plant. Another 400 acre was allocated to Ford Motors.

-The first car from proposed Peugeot plant will come out in 2014.

-25% cars will be exported.

-1,70,000 annual capacity of production.