India, Jan. 12 -- Maruti Suzuki India on Monday said its board has approved a Rs 4,960-crore proposal to acquire land for expanding its manufacturing capacity in Gujarat.
In a regulatory filing, the company said the board has cleared the acquisition of land at Khoraj Industrial Estate from the Gujarat Industrial Development Corporation. The proposed expansion will enable a capacity addition of up to 1 million (10 lakh) vehicles.
Maruti Suzuki added that the overall investment outlay will be finalised and approved by the board while deciding the phased installation of the new capacity. The move underscores the company's focus on scaling up production to meet growing demand in the domestic and export markets.
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