Peugeot today marked its re-entry into the Indian market, 14 years after its exit in 1997, by conducting the bhoomi puja and the ceremonious ground-breaking ritual at the site of its forthcoming factory in Sanand, Gujarat – a region where many other manufacturers are also setting up shop. The ceremony saw Grégoire Olivier, member of the managing board PSA Peugeot Citroen and CEO of Asian operations, Vincent Rambaud, director general of Peugeot and Frederic Fabre, managing director of PCA motors India take part in the auspicious ceremony.
“Gujarat is emerging as a global auto hub. I congratulate Peugeot for being a part of it,” said Gujarat chief minister, Narendra Modi.
This ceremony, following the State Support Agreement (SSA) signature held in Gandhinagar on September 1, is an important landmark for Peugeot in its Indian endeavour.
The engine and gearbox plant will be spread across 600 acres and Peugeot will also add a suppliers’ park, amounting to a global investment of Rs 4,000 crore, which will also lead to the creation of 5,000 new jobs in the auto industry. The plant will have an initial capacity of 1,70,000 vehicles per annum. What’s also in the pipeline for Peugeot is the construction of an Automotive Skills Development Institute in collaboration with the state of Gujarat.
Coming weeks will see the completion of soil analysis, followed by preliminary ground levelling works and the laying of the foundation subsequently.
The Peugeot brand has bold plans to re-introduce itself to the Indian market, and we can’t wait to see how it all unfolds at the upcoming Delhi Auto Expo in January.
Issue: 175 | March 2014
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