Mahindra Logo.
Credit: Reuters Photo
New Delhi: Mahindra Group on Friday said it will invest Rs 15,000 crore in Maharashtra over the next ten years, which includes setting up an automobile and tractor manufacturing facility in Nagpur.
In addition, Mahindra will acquire land in the Igatpuri-Nashik region to expand current product and engine capacities, as well as to support the growth of its Advanced Technology business, the statement said.
The Nagpur facility, which will be the group's largest integrated manufacturing facility for automobiles and tractors, will start production in 2028, the group said in a statement.
"With these initiatives, Mahindra is committing a comprehensive investment of Rs 15,000 crore over a ten-year period in Maharashtra and will acquire over 2,000 acres across three locations to further strengthen its manufacturing footprint," it added.
Once fully operational, the facility will have an annual production capacity of over 5 lakh vehicles and 1 lakh tractors, making it Mahindra's largest integrated manufacturing footprint in the country, it added.
The announcement was made at Advantage Vidarbha, a three-day flagship event positioning the region as an emerging industrial growth hub on India's manufacturing map.