India's Mahindra to invest $420 mln in expansion

Newswire

MUMBAI, May 28 (Reuters) - Mahindra & Mahindra , India's top utility vehicle maker, plans to invest 20 billion rupees ($420 million) in the year to March 2010, its chief financial officer said on Thursday. A large portion of the spend will go into the Chakan plant in west India, Bharat Doshi said. The plant will have a capacity to make 300,000 vehicles by the end of the year. ($1=47.6 rupees) (Reporting by Janaki Krishnan; Editing by John Mair)

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