BMW seeks India govt OK for $40 mln car plant-paper

Newswire

BOMBAY, July 21 (Reuters) - German luxury car maker BMW has sought permission from the Indian government to set up a $40 million manufacturing plant, the Business Line newspaper reported on Thursday. The paper said the plant will be located in the town of Chengelpet in the southern state of Tamil Nadu, home to global car majors Ford Motor Co. and Korea's Hyundai Motor Co. . A proposal from BMW AG and BMW Holdings BV is awaiting clearance from the Foreign Investment Promotion Board, ...

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