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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Maruti Suzuki unveils new India plant to meet demand AFP - Tuesday, September 7 Send IM Story Print Maruti Suzuki unveils new India plant to meet demand Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – India's leading car maker, Japan-owned Maruti Suzuki, said Tuesday it would invest 35 billion yen (416 million dollars) to build a new factory to meet growing local demand. "We had not estimated the pace at which car demand would grow (in India)," the chairman of Suzuki Motor Corp, Osamu Suzuki, said in a speech to Maruti Suzuki shareholders. Maruti, which has a strong following among India's growing middle class, is already producing at full capacity and has long waiting lists for some popular models. The new factory will be the third unit at Maruti's complex in Manesar, northern Haryana state, which is about 30 kilometres (18 miles) from New Delhi. The plant will lift the company's total production to 1.75 million units a year. India has posted blistering car sales growth, with more than half a million sold in the first four months of the current fiscal year. Car sales in India hit a record high in July on the back of soaring demand in rural areas, jumping 38 percent to 158,764, compared with 115,084 in the same month last year, according to industry figures. -- Dow Jones Newswires contributed to this report -- Recommend Send IM Story Print Related Articles Rouble down on external woes, but bias toward firming Reuters - 24 minutes ago FOREX-Euro plunges on renewed bank and economic concerns Reuters - 30 minutes ago Turkish markets weaker, cautious ahead of referendum Reuters - 31 minutes ago FACTBOX-Taxation differences among Gulf Arab oil producers Reuters - 35 minutes ago US-BUSINESS Summary Reuters - 46 minutes ago News Search Top Stories France, Britain strikes cause travel chaos EU takes stand to boost growth, financial supervision Barroso urges ambitious Europe in first State of the Union Barclays bank picks American Diamond as new head French unions strike against Sarkozy pension reform More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Japanese rider Tomizawa dies in San Marino Moto2 GP Non-stick cookware may boost cholesterol: study Former HP boss joins Oracle Obama unveils new 50-billion-dollar infrastructure plan Avatar director vows to aid Amazon tribe More Most Viewed » Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Japanese rider Tomizawa dies in San Marino Moto2 GP Unchecked migration would see Singapore swell, Haiti halve More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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