India's Mahindra says to spend 50 bln rupees on capex

Newswire

MUMBAI, May 31 (Reuters) - Mahindra & Mahindra, India's biggest utility vehicle maker, will spend 50 billion rupees ($888 million) on capital expenditure over the next three years starting 2012/13, a company executive said on Thursday. Mahindra plans to spend an additional 25 billion rupees on investments including acquisitions over the next three years, said Pawan Goenka, head of the company's automotive and farm equipment divisions. The company is in talks with subsidiary Ssangyong's ...

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