Mahindra & Mahindra, which enters the passenger car segment next year with the launch of the no-frills sedan Logan, will set up a greenfield facility that can involve an investment of up to Rs 2,000 crore."We have plans to expand capacity through a greenfield facility, which will involve an investment of Rs 1,000-2,000 crore...made in a phased manner over a five-year period," Pawan Goenka, president of M&M, said.The company is currently scouting for a location to set up the new facility which, among other vehicles, is likely to be used for manufacturing a new multi-utility vehicle, Ingenio, that Mahindra plans to launch in 2008.The company has spoken to Maharashtra and Tamil Nadu governments for the new facility,Goenka said. The company is believed to have shortlisted two more states in its quest for a new plant as it looks to strike the best possible deal.The meeting with Tamil Nadu chief minister was held on June 22 and the Mahindra delegation included Anand Mahindra, vice-chairman & MD of M&M, Anil Nanda, executive director of of M&M besides Goenka.The company is believed to have bargained for a variety of concessions from Tamil Nadu, which also houses the plants of automakers like Ford, Hyundai, Ashok Leyland and the upcoming one of BMW.
