Delphi-TVS pens Rs 500-cr plan
NEW DELHI: Delphi-TVS Diesel Systems on Saturday announced plans to invest Rs 500 crore to manufacture common rail fuel injection systems, besides setting up a technical centre in Chennai to carry out product development activities.
“Out sales target by 2010 is to achive a turnover of Rs 1,200 crore from the current level of Rs 330 crore. The company currently makes 1,000 diesel pumps a day.
We expect to take the production to over a million pumps annually by 2010 for rotary, common rail and other fuel injections,” Delphi-TVS managing director TK Balaji said at the ongoing Auto Expo.
“The fund for the investment would be raised partly through internal accruals, and partly through borrowings. In required, the JV partners will put additional capital,” he said.
SOURCE:THE TIMES OF INDIA
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