Honda Siel plans Rs 700cr capex in 5yrs

Honda Siel Cars India (HSCI) is planning to invest Rs 700 crore in the Indian market over the next five years.

"The money will be used for capacity expansion as well as new launches," Masahiro Takedagawa, president and CEO of HSCI, said today.

"Civic would be the new model to hit the Indian roads in 2006 with a production capacity of about 10,000 units annually," Takedagawa added.