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Pune: Bajaj Auto Limited to invest Rs 650 crore in Chakan

A press release issued by the company, late on Tuesday evening, said that the company has signed a Memorandum of Understanding (MoU) with the Maharashtra government in this regard and that production would commence in 2023.

By: Express News Service | Pune | December 23, 2020 12:50:29 am
Bajaj Auto manufacturing facility, Chakan industrial area, Bajaj Auto Limited, Pune news, Maharashtra news, Indian express newsHeadquartered in Pune, the company has manufacturing facilities in the city and Pantnagar already. (Representational)

Bajaj Auto Limited has announced that it will invest Rs 650 crore to set up a manufacturing facility in Chakan industrial area of Pune district. A press release issued by the company, late on Tuesday evening, said that the company has signed a Memorandum of Understanding (MoU) with the Maharashtra government in this regard and that production would commence in 2023.

Headquartered in Pune, the company has manufacturing facilities in the city and Pantnagar already. The press release added that the new facility would be utilised for manufacturing high-end KTM, Husqvarna and Triumph motorcycles as well as for electric vehicles starting with Chetak. “Under the arrangement, the Government of Maharashtra will facilitate Bajaj Auto in obtaining necessary permissions/ registrations/ approvals/ clearances/ fiscal incentives, etc from the concerned departments of the State, as per the existing policies/ rules and regulations of the Government of Maharashtra,” the release read.

Recently, Chief Minister Uddhav Thackeray had signed MoUs which will result in investment worth Rs 34,500 crore pouring into the state. Pune is set to see eight mega companies investing over Rs 10, 000 crore and generating employment for over 18,000 people.

Of the 18 companies which have recently signed MoUs with the state government, eight are destined for Pune, which can provide the next push for industrial growth in the region. Of the eight companies which are making a beeline for the city five are involved with logistics.

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