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Beiqi Foton may go ahead with investment in Maharashtra

Thursday, 07 Jun 2012
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Beiqi Foton, chinese commercial vehicle maker, is likely to go ahead with its investment plans for Maharashtra. 

The company will invest Rs 1,700 crore in Maharashtra, while other manufacturers are scouting opportunities elsewhere over the value-added tax (VAT) issue. The company plans to set up facility for commercial vehicles in the Chakan auto hub. According to the MoU between Beiqi Foton and the state government, signed more than a year ago, the plant should be operational by early 2013. But construction is yet to begin at the site. The plant will have a capacity to produce 1,00,000 units per annum. The company is looking at bringing its entire range of light, medium and heavy commercial vehicles to India.
 
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