Bosch starts investing Rs 1800 crores in Indian operations

Kolkata, Nov 01 (UNI)"Bosch",the global auto component giant of Germany,has chalked out an elaborate programme to invest Rs 900 crores more during the next two years to broadbase its Indian operations through its flagship company MICO.

Announcing this here today Motor Industries Company Limited(MICO) Managing Director Albert Hieronimus said in fact Bosch had been investing to the tune of Rs 1800 crores in India over a period of three years since 2005 for further expansion and opening of new plants, including those at Nasik and Jaipur.

He said of the Rs 900 crores already invested, Rs 550 crores had gone into the coffers of MICO for being the largest Indo-German venture,followed by Rs 200 crores and Rs 150 crores to two other wholly owned subsidiaries of Bosch during the last 18 months for further capacity expansion and mechanisation under a time bound programme.

Claiming that MICO's diversified business including the production of famous auto spark plug had recorded over 30 per cent growth during the first nine months of this year to reach the record figure of Rs 3200 crore,Mr Heironomous said during last year MICO's sale had crossed the Rs 4,000 crores mark with an annual production of 20 million units.

Explaining the rationale behind Bosch's huge expansion programme, the MICO MD said since the Indian automobile industry grew by over 50 per cent during the past few years,the demand for auto components also increased manifold creating a much wider makret within the country.

He, however,said neither Bosch nor MICO had any plan to set up any new auto component plant in West Bengal primarily because of lack of demand despite the bright possibility of Tata Motors setting up its small car production unit at Singur near here by 2008.

''Untill and unless Tata Motors plan crystalises we are not looking towards East as our next destination,'' Mr Heironimous said even while hailing the ongoing industrial rejuvination programme of the state government.

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