Suzuki, Maruti to float new venture

Suzuki has 54.2 per cent stake in Maruti Udyog, the largest car manufacturer in the country. In another development, an existing Suzuki subsidiary, Suzuki Metal India engaged in an aluminium foundry project, will also undertake manufacture of 1.3 litre diesel engines at a new plant at Manesar. The plant will start operations by end-2006.

He said, 8216;8216;Suzuki alreaSuzuki, which is a 51:49 joint venture with Maruti, will invest Rs 420 crore Yen 10 bn to manufacture 100,000 diesel engines annually. The joint venture will be renamed Suzuki Engineering India.

The total investment in both the ventures will be over Rs 1,000 crore.

The technology will be sourced from Fiat Auto and GM8217;s subsidiary, Adam Opel.

Suzuki announced that it will start producing and selling two-wheelers by 2005-end.