“We will invest $1.7 to 1.8 billion to further expand the manufacturing capacity of the Maruti and also to set up Research and Development (R&D) facilities,” the SMC Chairman O Suzuki told newspersons here.

This proposed investment of $1.8 billion is over and above Rs 9,000 crore investment envisaged by the SMC to upgrade the three existing manufacturing plants of Maruti in Gurgaon and setting up of an additional car manufacturing plant and diesel engine plant in Maneshar, Maruti officials explained.

For this expansion it has applied to the Haryana government to allot additional 500 acres of land in Maneshar. At the same place  SMC will also set up R&D facilities to keep pace with global demand, Suzuki said.

Net profit up
MSIL, on Monday, reported 26.95 per cent increase in its net profit in Q2 2007 at Rs 466.5 crore as against Rs 367.44 crore in Q2 last year. The company’s total income in the quarter under review grew to Rs 4,735.83 crore from Rs 3,540.89 crore in the year- ago quarter, up 33.74 per cent y-o-y, MSIL said in a statement. Suzuki also announced changes in top management of the MSIL by appointing S Nakanishi as the Managing Director of MSIL in place of Jagdish Khattar who will retire in December 2007.