Hindustan Motor to launch Sport vehicle

Kolkata, Jul 28 (UNI) Hindustan Motors Ltd. is planning to launch its premium segment sport utility vehicle ' Monterro' in the second week of August, Chairman C. K. Birla said today.

The vehicle will be imported from Mitsubishi's plant in Japan, he said.

The price of the vehicle is expected to be around 2.91 million rupees, Mr Birla told reporters after company's annual general meeting.

The company is initially expecting to sell 20 units of Monterro per month, he said.

About their another sport utility vehicle 'Pajero', which was launched in 2005, Mr Birla said they had started well with monthly sale of 15 units, but now rose to 70 units per month.

Regarding plans to develop excess land at Uttarpara plant in West Bengal, the Chairman said they have been awaiting clearances from the state government for the project.

The company has planned to develop a special economic zone at Uttarpara and had approached the state government for approval.

The company has decided to set up auto ancillary facility, information technology park and commercial and residential complexes over 314 acres of land adjoining to their plant in the state.

The zone would be developed by a real estate company in joint venture, Mr Birla said.

Hind Motors today reported a net loss of 205.4 million rupees for April-June quarter compared with a net profit of 1.02 billion rupees in same quarter of previous year.

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