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Yamaha to invest over Rs 200 crore in Chennai plant
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SME Times News Bureau | 23 Sep, 2017
Japanese group Yamaha plans to
invest more than Rs 200 crore in its two-wheeler plant near Chennai, a
statement from India Yamaha Motor Pvt Ltd said on Friday.
"Yamaha
has so far invested Rs 1,300 crore in the Chennai factory and plans to
invest over Rs 200 crore more by 2018. The Chennai factory is the first
in the Yamaha Motor group with a vendor park in its vicinity," the
statement said.
The vendor park has nine vendors, who have
invested Rs 760 crore to date, employing more than 1,900 people, India
Yamaha Motor said.
On Friday, the company reached a major milestone of producing its one-millionth unit at the Chennai plant.
Yamaha
began its operation in Chennai in March 2015 with an initial capacity
of 4.5 lakh units per annum. In two years, it increased its capacity to
six lakh units per annum and by 2019, it will reach nine lakh units per
annum.
"The plant near here is of strategic importance to
Yamaha's local and global business. Apart from catering to the domestic
market, the plant is aimed at functioning as the manufacturing base for
predominantly African market as well as ASEAN and Latin American
markets," the statement added.
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