DCDP promotes JV with ETA Ascon Group

Chennai, Aug 21: The Pune-based Dilip Chhabria Designs Private (DCDP) Ltd., has promoted a joint venture (JV) project with the Dubai-based ETA Ascon Group with an initial investment of ten million US dollors, DCDP's Managing Director Dilip Chhabria said today.

Talking to reporters here, he said the joint venture company was named 'EXIMSTAR' and the new automobile zone cum manufacturing unit would be established next year.

Citing that this was their first such project abroad, Mr Chhabria said the company would venture in the Far-East and European countries subsequently.

He said the DCDP used to take care of the needs of every individual demanding interior and exterior designs of car. However, it would not touch the mechanical and electrical portion, he added.

He said some corporate heads wanted that inside of their car should be designed as conventional office with all kinds of facilities like PCs, Fax and other facilties. The company used to fulfil such demands, he added.

To a question, he said in India, they had modified 500 cars in 2004 and 1,000 units till date this year.

Mr Chhabria said while the ETA would invest 60 per cent, the DCDP would pool the rest.

Mr H M Saleem Ansari, General Manager of EXIMSTAR said the joint venture would cater to the need for customised cars.

They planned to produce 200 units per annum in the first year and subsequently it would be raised to an annual growth of 75 per cent.

He said the DCSTAR, the existing automobile company of the ETA Group had global business in 70 countries and added that it would help the new joint venture to promote the products. The ETA Group of Companies had 40,000 employees of which 35,000 were south Indians.

The Company had participated in the Auto Show held in the Middle East in 2005 and a similar show at Beijing in China early this year and evoked good response from the global auto shows, he added.

UNI