SAIC's MG Motor signs pact to take over GM India's Halol plant

Rs 2,000 crore to be invested in new plant; around 1000 people to be employed

General Motors' Chinese joint venture partner SAIC Motor Corporation Ltd has firmed up plans for starting its India manufacturing plant at GM India's Halol unit, where operations were shut down in April this year. SAIC's Indian subsidiary MG Motor India on Wednesday signed a memorandum of understanding (MoU) with the Gujarat government and GM India for the transfer of land leased out to the latter for the facility.

The Chinese auto major has committed to making investments worth at least Rs 2,000 crore for the new plant and its machinery at Halol. Around five global vendors of the company are likely to