Indian automaker Mahindra & Mahindra (M&M) is set to establish a new car producing plant in Tamil Nadu with investments of INR40bn ($662.96m).
The new facility, which will represent the company's seventh automotive plant, is expected to be announced in June 2014 and would commence operations by 2015-16 with a completely new model range.
The move is part of M&M's plan to invest INR100bn ($1.65bn) during the next three years for expanding its capacity as well as developing new products.
M&M ED and president Pawan Goenka was quoted by Financial Express as saying, "We are close to finalising the deal and will make the announcement around June."
The company is reportedly signing a deal with the Tamil Nadu government for the new plant, which is expected to be built on a 400acre site at Cheyyar.
The facility would will manufacture vehicles such as a compact SUV, a new mid-size SUV, a global MPV and a new LCV.
