Hind Motors appoints HDFC to sell Bengal land

Hindustan Motors (HM) plans to sell excess land at its Uttarpara plant in West Bengal. The company has identified some 314 acre of the total 740 acre as surplus land.

MD Ravi Santhanam, while launching its latest premium sports utility vehicle Montero today, said: "We want to utilise sale proceeds for sourcing all components and other needs. We are awaiting government nod and have appointed HDFC as our consultant."

HM also plan to set up a separate subsidiary, AVTEC, for the auto component business. The company plans to supply components to the equipment manufacturers in the domestic as well as western countries. It also plans to launch a host of the

Mitsubsishi range of cars in India from the next year and is entering into a special partnership for their exclusive marketing. Montero, which has been priced at Rs 29.7 lakh, is being imported as a completely built unit from Japan.

Fitted with a 3.2 litre, turbocharged, direct injection engine, Montero has been able to get 54 pre-launch bookings and will be sold through a chain of 45 dealers.