Japanese automobile maker Isuzu Motors on Monday started construction work of its Rs 3,000-crore manufacturing facility in Andhra Pradesh.
The company held ground breaking ceremony for its new manufacturing facility at Hyderabad and plant’s foundation stone was unveiled by Nallari Kiran Kumar Reddy, Chief Minister of Andhra Pradesh, Susumu Hosoi, President and Representative Director from Isuzu Motors limited.
The company, which had acquired 107 acres of land in 2013 for the plant, is likely to commence commercial operations by early 2016 with an initial initial production capacity at 50,000 units per year.
“It is an important and exciting day for us since we have broken ground at Sri City. India is a key region in Isuzu’s global growth strategy for its emerging markets and as an important manufacturing hub in the future,” Isuzu Motors India President and Managing Director Takashi Kikuchi said.
Commenting on the development, Isuzu Motors India Deputy MD Shigeru Wakabayashi said the company will also cater to international markets from the plant.
“We will look at exporting from this plant,” he said.
The production capacity of the plant, which is expected to generate 2,000-3,000 jobs, could be scaled up 1.20 lakh units per year.
“India is a key region in Isuzu’s global growth strategy for its emerging markets and as an important manufacturing hub in the future. Our focus is to accelerate our business and establish Isuzu as an important player in the pickup trucks and utility vehicles market in India,” Kikuchi said.
The company also plans to have strong presence across the country, with an aim of having 180 dealerships by 2018.