France-based automobile maker Renault has announced its plans to invest R$500m ($223.44m) during 2014-2019 to expand its Curitiba Ayrton manufacturing facility in Brazil .
Under the five-year plan, the company will invest the amount to increase capacity to make two new cars at the Curitiba plant in Senna industrial complex.
Renault Group chairman and chief executive Carlos Ghosn said Renault Brazil successfully completed its previous investment plan and is now pursuing the ambition of expanding its domestic market share.
"Since 2011, Brazil is the brand's second largest market after France and it is a priority in the Group's global growth strategy," Ghosn said.
In addition to the expansion, Renault will also invest R$240m ($107.25m) over the next ten years for the construction of a new national parts distribution center in the city of Quatro Barras, Paraná.
The new center is expected to commence operations during the second half of 2015. The operations would include movement of 200 heavy-duty trucks per month.
Previously, the company invested R$1.5bn ($670m) in Brazil to increase the production capacity from 280 000 to 380 000 units per at the Curitiba Ayrton Senna industrial complex and add two new models to its 2013 portfolio, the Master and New Logan.
