Gandhinagar, July 5, 2017: Gujarat Government has signed Memorandum of Understanding (MoU) with Shanghai Automotive Industries Corporation (SAIC) to set up an automobile facility at Halol in the State in presence of Gujarat Chief Ministers Vijay Rupani here.
The passenger car and commercial vehicles project is being considered as materialization of Gujarat as an auto hub following initiatives taken during Vibrant Gujarat Summit under the leadership of Mr. Rupani.
Impressed by Gujarat’s pro-people, proactive, crystal clear industrial policies and infrastructure facilities, the noted Chinese company decided to invest Rs.2,000-crore over the next five years, after weighing other sites in India.
The company will employ about 1,000 persons even as the state government will provide registration, permission and other supports. It will start production in 2019, initially 50,000-70,000 units, to increase production depending upon the market condition and demand.
Besides SAIC India, five ancillary industries will also invest in India, namely Yang feng, Huichoung, Waling Indutry, Ling Yun and Sevic.
The 106-billion dollar Fortune 500 company, SAIC has production units in the USA, U.K., Germany, Thailand, Hong Kong and in Haryana in India.
The MoU was signed between SAIC (India) Director and Gujarat’s Principal Industries Secretary M.K. Das.
Those present during the MoU signing ceremony included Chief Secretary J. N. Singh, Chief Minister’s Principal Secretary S. Aparna and Industries Commissioner Mamata Verma.
Source: Information Department, Gujarat