Mumbai, Feb 20 (UNI) India's largest passenger carmaker, Maruti Suzuki India Limited (MSIL) today announced signing of an agreement with Mundra Port and Special Economic Zone (MPSEZL) for a mega car export terminal at Mundra in Kutch district of Gujarat.
Under the agreement, the group jointly, at initial level, will invest Rs 100 crore for the development of the project, which is expected to be operational by December, MSIL informed BSE.
MPSEZL will invest Rs 60 crore in setting up infrastructure at the port. While, MSIL will invest Rs 40 crore to set up a ''Pre-Delivery Inspection'' centre in the port premises. MPSEZL is planning to augment the port infrastructure in due course of time, a release said.
The new terminal will have a car stockyard spread over 35 acres, and a dedicated ''buffer area'' for cars to be parked just before loading on the Pure Car Carrier (PCC) ships.
MPSEZL Chairman and MD Gautam S Adani said, ''We are pleased to develop cost effective Roll-on Roll-off (RORO) terminal for facilitating automobile export by Maruti Suzuki.'' ''RORO terminal at Mundra will provide cost competitive support to Indian automobile industry for international trade and our aim is to make Mundra a hub for automobile exports,'' Mr Adani asserted.
Maruti Suzuki's exports have grown significantly this year, and will touch 50,000 units in 2007-08, up by 28 per cent. The Company currently exports from Mumbai Port.
The Company will commence export operations at Mundra Port from January 2009. In view of increasing export volumes, Maruti Suzuki will continue exports from the metropolis as well, the release added.
Maruti Suzuki will be launching its new model ''A-Star'' by the end of this calendar year. The Company plans to export two lakh cars annually to Europe and the rest of the world by 2010.
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