New Delhi: Tata Motors is ready to take over Ford’s passenger vehicle manufacturing plant at Sanand – around 40 kilometers away from Gujarat’s Ahmedabad city. Both the companies have submitted a consented proposal for the transfer of ownership of Ford’s passenger vehicle manufacturing plant to Tata Motors.
A high-power committee (HPC) appointed by the state government will give a nod to the proposal, clearing the pathway for Tata Motors’ takeover of the plant next week.
According to the media report, The company has accumulated operating losses of around $2 billion in India in the last decade. Ford Motor Company had invested Rs 4,500 crore to set up the plant with a capacity to manufacture 2.4 lakh units and 2.7 lakh engines per annum.
It remains to be seen whether Tata Motors will enjoy the exceptional incentives and benefits it had been given at the time of starting the Nano plant at Sanand for the new plant it is set to acquire. A decision will be taken on whether the company will get added benefits or the same that were extended to Ford India.
(SMIT SONI)
