Asia Bizz: Indian auto giant Tata Motors revealed on March 29, 2012 that it might invest about Rs 600 crores in the development of Futuristic Infantry Combat Vehicles (FICV). The company also stated that it plans to set up a manufacturing plant for the new FICVs.
In a press conference, Ravi Pisharody, the commercial vehicles business unit President of Tata Motors said that the development cost of the FICV is expected to be Rs 300 crores, whhile setting a manufacturing plan for the vehicles could cost around Rs 250 crores.
Pisharody said that the manufacturing of the plant would depend on the company to get government orders. The CVB unit president also said that Tata Motors is one of the four companies which has received the Expression of Interest to supply around 2,000 units.
The tender process is yet to be completed due to which there is no final decision on the setting up of the plant. In case the company gets the order, then the plant might be set up in Dharwad in the state of Karnataka.
The company’s revenue is estimated to be Rs 1,000 crore in this fiscal year, which is approximately 50 percent growth over the last year.