Tag Archives: Investment

Peugeot To Set Up New Plant In Gujarat with Rs 4,000 Cr Investment

Making its re-entry in the Indian market, French automobile giant PSA Peugeot Citroen (PPC) entered into a memorandum of understanding (MoU) with the Gujarat administration with the aim to establish a unified manufacturing plant with a total investment of Rs 4,000 crore at Sanand.

Gujarat Principal Secretary Maheswar Sahu and PSA Peugeot Vice-President (Emerging Market and India) Fredic Fabre inked the MoU in the company of Chief Minister Narendra Modi.

As per an official report, “The fully integrated facility of PPC, the first one in India, will be set up on 584 acres with an investment of Rs 4,000 crore. It will have an initial capacity of 1,65,000 units annually and is expected to be commissioned by end of 2013.”

PPC Board Chairman Philippe Varin said that the state of Gujarat provides a practical biz atmosphere, admirable infrastructure and is purely well placed to fulfill the requirements of passenger car markets crosswise the country.

“We view India as one of the most important and dynamic markets in the world, with forecasts of it becoming the third largest automotive market by 2020,” Mr. Varin added.

The French car manufacturer was present in India via a JV with Premier Automobiles Ltd (PAL) nearly a decade ago.

The joint venture was later wound up and the company, PAL Peugeot Ltd (PPL), stopped operations.

With the novel contract, Peugeot will be a neighbor of Ford and Tata’s Nano facilities in Sanand, a forthcoming auto center some 40 kms from here.

The firm had been in search of land for its India foray for the last few months in the state of Tamil Nadu, Andhra Pradesh and Gujarat.

Woodland Plans To Make Investment Of Rs 100 Cr To Set Up Facility, New Stores

Footwear and apparel giant Woodland announced that it will make an investment of more than Rs 100 crore during the existing financial year to establish a new manufacturing unit at Greater Noida and open 60 more exclusive stores in the country.

Woodland Managing Director Harkirat Singh stated, “We are commissioning a new unit for denim and woven garments at Greater Noida with an investment of about Rs 60-70 crore. The production is likely to start in the next 3-4 months.”

Mr. Singh added that the company will also establish 60 new exclusive Woodland stores crosswise the country, with concentration on Tier II and Tier III cities, involving an investment of around Rs 40 crore.

At present, Woodland runs more than 300 exclusive outlets and also sells its products at more than 400 multi-brand stores.

“Almost 50% of the new stores planned would be large format spread across 10,000-12,000 square feet,” Mr. Singh added.

At present, the company possesses or functions 10 manufacturing facilities in North India for outdoor shoes.

The company outsources production of fashion footwear array to Vietnam and China.

For the existing fiscal year, the company anticipates 30% expansion to touch hit revenue of Rs 800 crore.

Mr. Singh also said that in addition to flourishing the physical retail footprint, the company is betting big on online retail.

“In the next two years, we expect our online sales to contribute 10% to our total turnover,” he said.