TVS Motor Company Ventures Into Three New Projects
The members of Board of Directors of TVS Motor Company, at their board meeting held today, approved three new proposals.
The setting up of a manufacturing facility for two wheelers in Indonesia with an initial annual capacity of 1.20 lakhs two wheelers. The investment would be upto US $ 50 million.
The setting up of a manufacturing facility for three wheelers in their existing plant at Mysore with an initial annual capacity of 1.00 lakh vehicles. The estimated cost of the project is Rs.100 crores.
To set up a two wheeler manufacturing unit in Himachal Pradesh with an initial annual capacity of 3.00 lakhs vehicles at an estimated cost of Rs.90 crores.
TVS Motor Company has already organised a line of credit to the tune of US $ 100 million. Together with internal accruals, the Company will have sufficient funds for the above projects.