Maruti Suzuki India Ltd (MSIL) and Mundra Port and Special Economic Zone Ltd (MPSEZL) signed an agreement for a mega car terminal, expected to be operational by December 2008, at Mundra in Kutch district of Gujarat.
The agreement was signed by Mr Shinzo Nakanishi, Managing Director and CEO, MSIL, and Mr Gautam S. Adani, Chairman and MD, MPSEZL, at Mundra Port in the presence of senior officials from MSIL & MPSEZL.
The initial investment in the project is expected to be around Rs 100 crore. Of this, MPSEZL will invest Rs 60 crore in setting up infrastructure at the port. MSIL will invest Rs 40 crore to set up a Pre-Delivery Inspection (PDI) centre at the port premises. MPSEZL is planning to augment the port infrastructure in due course of time, a company spokesman said.
Maruti Suzuki will commence export operations at Mundra Port from January 2009. In view of increasing export volumes, it will continue exports from Mumbai as well. This mega car terminal's PDI Centre, spread over 7,500 square metres, would conduct the final quality check before the cars are loaded on ships for export. The Rs 40 crore being invested in this facility is part of the Rs. 9,000-crore investment plan announced by MSIL and Suzuki Motor Corporation (SMC) of Japan. MSIL, a subsidiary of SMC, is the leader in passenger cars and MPVs in India, accounting for almost 55 per cent of total industry sales. It offers 10 models, ranging from the people¿s car Maruti 800 to the stylish hatch-back Swift, SX4 Sedan and luxury SUV Grand Vitara.
Listed on the BSE and NSE, the company had a net sales turnover of $3.25 billion and net profit of $347 million 2006-07.
Mundra Port and SEZ is India's largest private sector port and SEZ, having handled over 20 million tonnes of wide range of cargo including bulk, break bulk, liquid, containers as well as automobiles during first nine months of 2007-2008. The SEZ which is planned over 32,000 acres of land will be self-contained with power, water, social infrastructure, airport, railway line, banking services etc and will house variety of manufacturing and servicing units.
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