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Thursday, January 10, 2008
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News Update as at 18.00 hrs (IST)


Corporate
Volvo to invest Rs 80 cr for setting up manufacturing plant

NEW DELHI: Bus maker Volvo bus corporation will invest Rs 80 crore to set up a bus body manufacturing plant at Hosakote, Bangalore.

The company has tied up with India's Jaico Automobiles to form a joint venture company - Volvo Bus Body Technologies India Pvt Ltd, Volvo Bus Corporation Director, Mr Akash Passey, told presspersons at the 9th Auto Expo here.

The joint venture company would have a manufacturing capacity of 1,000 buses per year and cater to both Indian and foreign markets. - PTI

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