New Delhi, Jan. 12 -- Maruti Suzuki India Limited (MSIL) announced on Monday that its Board of Directors approved the acquisition of land at the Khoraj Industrial Estate in Gujarat for the expansion of its production capacity. The company intends to acquire the land from the Gujarat Industrial Development Corporation with an initial investment of Rs 4,960 crore, according to a regulatory filing. This investment covers the cost of land acquisition, development, and preparatory activities as the automaker seeks to address growing market demand in both domestic and export sectors.

The regulatory filing indicates that the proposed capacity addition aims for up to 1 million units. Currently, the company's existing production capacity stands a...