MUMBAI, Feb 27 (Reuters) - Hindustan Motors Ltd. said on Tuesday it expects to get 2.95 billion rupees over the next 10 quarters from the development of a 314-acre plot it owns in eastern India. The company said it would also get a non-compete fee at 4 percent of the sale value of the developed property. Hindustan Motors, one of India's oldest car makers, has already submitted to West Bengal goverment a proposal to develop the land near Kolkata city jointly with Shriram Properties Ltd.
Premium Content (PAID Subscription Required)
"Hindustan Motors to get 2.95 bln rupees from land deal" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.