Arab Today, arab today ford lays foundation for 1b india factory
Last Updated : GMT 13:41:06
Arab Today, arab today
Arab Today, arab today

Ford lays foundation for $1B India factory

Arab Today, arab today

Arab Today, arab today Ford lays foundation for $1B India factory

Mumbai - SPA

Ford Motor Co. said that it laid the cornerstone for a new billion dollar factory in India, AP reported. The plant will have the capacity to manufacture 240,000 cars and 270,000 engines a year when it\'s complete in 2014. The factory will produce cars for domestic consumers and for export. Ford\'s move to expand its India business comes amid slowing car sales in India. So far during the fiscal year ending in March, car sales have crept up 0.3 percent, against the previous year\'s 29.5 percent surge.

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