Maruti, Mundra Port to invest Rs 100cr

Maruti Suzuki India (MSIL) and the Adani Group-promoted Mundra Port and Special Economic Zone (MPSEZ) will invest Rs 100 crore for developing a mega car terminal at Mundra, Gujarat. The terminal is expected to be operational by December 2008.

While MPSEZL will invest Rs 60 crore in setting up infrastructure at the port, the remaining investment will come from MSIL to set up a pre-delivery inspection centre at the port premises.

Maruti Suzuki's exports have grown significantly this year, and is expected to touch 50,000 units in 2007-08 (a growth of nearly 28%). The company currently exports from Mumbai Port, and expects to export two lakh cars annually to Europe and the rest of the world by 2010.

The new terminal will have a car stockyard spread over 35 acre, and a dedicated buffer area for cars to be parked just before loading on pure car carrier (PCC) ships.

The agreement was signed by Shinzo Nakanishi, managing director and CEO, MSIL, and Gautam S Adani, chairman and MD, MPSEZ, at the Mundra port.