Isuzu-Mazda tie-up sets pace for heavy auto industry

By Staff
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Google Oneindia News

Chandigarh, Sep 10 (UNI) The heavy automobile industry in Punjab is all set to get a major boost with the premier Japanese automobile multi-national Isuzu Motors in collaboration with Sumitomo-Swaraj Mazda deciding to manufacture buses and trucks in the state.

An announcement to this effect was made by the Isuzu Chairman Yoshinori Ida and Sumitomo Corporation Chairman Motoyuki Oka during their deliberations with Chief Minister Parkash Singh Badal here today.

The company would initially invest Rs 300 crore and roll out 12,000 buses in the first year.The capacity would be enhanced to 24,000 buses and trucks.

Taking part in the deliberations, Mr Badal welcomed Mr Ida for inaugurating the plant operations for the manufacturing of luxury buses on Isuzu chassis at the Swaraj Mazda premises in Asron in district Nawanshahar. He pointed out that the decision of Isuzu would further boost the pace of all round development as the demand for buses and trucks was rising sharply.

He told the Isuzu chairman that Punjab was well connected with other parts of the country through roads, railways and air-links.

''On the strength of its happy experience in Punjab and with Sumitomo's field of activities covering a wide spectrum of business interest in metal products, transportation and construction system, minerals, resources and energy, chemical and electronics, infrastructure, media network and life style retail, general products and real estate financial and logistics etc, I would request Sumitomo to make Punjab as their business destination in India for future investments,'' the Chief Minister said while assuring support and cooperation to Isuzu Motors.

Earlier, welcoming the Chief Minister, the Managing Director of Swaraj Mazda Ltd, Mr Yash Mahajan recalled the bold initiatives which Sumitomo alongwith Mazda took during 1983-84 and made investment in Punjab for the setting up of the Light Commercial Vehicles factory inspite of the disturbed conditions in the state .

He said that with Sumitomo becoming the major shareholders of the company, he was delighted to welcome the arrival of Isuzu Motors in Punjab which would herald a revolution in the manufacturing of ultra-luxury buses besides a wide range of trucks.

UNI

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