Toyota to go ahead with investment

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Tags : auto sector Posted: Thursday , Nov 06, 2008 at 0122 hrs MUMBAI::

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Despite the slowdown, Japanese auto major Toyota said it would almost double its investment for its second plant at Bangalore to Rs 3,200 crore by pumping an additional Rs 1,553 crore. "An additional amount of around 33 billion Yen (about Rs 1,553 crore) will be invested for both general-purpose and specialised equipment necessary for manufacturing a new compact vehicle," the company said in a statement.The company had earlier said it would invest about Rs 1,650 crore (35 billion Yen) on its second plant in Bangalore, which would manufacture its 'strategic small car' to be launched by 2010-11.

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