M&M plans new greenfield facility

Mahindra & Mahindra plans to set up a greenfield facility with an investment of Rs. 10,000 million. The greenfield facility will have an initial annual production capacity of 1,00,000 units, eventually to be scaled up to 500,000 units. The company has shortlisted TN, Karnataka, Uttaranchal, Maharashtra and AP for the project. The Nashik plant is also undergoing an capacity expasnsion from 80,000 units/year to 1,50,000 units/year. The Greenfield is likely to become operational by 2009.