PSA Peugeot will be getting land when they require it: Gujarat Government
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As per a recent statement given by a senior government official, the French car maker PSA Peugeot will be offered 600 acres of land for their proposed investment of Rs 4,000 crore in the state, as and when the company requires it.
Speaking to PTI on Friday, state's Principal Industry Secretary M Sahu said, "Six hundred acres of land was not transferred to Peugeot due to some financial issues for its proposed integrated manufacturing facility in Sanand and the company will now be given land as and when they require it."
The company has signed a State Support Agreement (SSA) under which it has proposed a sum of Rs 4000 crore in Gujarat to set-up new production plant. The company has proposed to launch their first car in India from their Sanand plant.
The plant was earlier proposed to go on stream from year 2014 with an initial capacity of 1,70,000 cars. However, due to ongoing financial crisis in Europe, the company has decided to keep India plans on hold and enhance focus on the operations in the domestic market.
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