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Empresas y finanzas

India's Maruti to spend $716 million on new car plant


    MUMBAI (Reuters) - India's top carmaker Maruti Suzuki is to invest 40 billion rupees ($716 million) to set up a new manufacturing facility in the western Indian state of Gujarat, raising its total capacity to 2 million units by 2015-16.

    The company has signed an agreement with the government of western Indian state of Gujarat to buy land to set up a new manufacturing facility, it said in a statement on Saturday.

    Maruti Suzuki estimates it will generate employment for more than 2,000 people.

    Maruti, 54.2 percent owned by Japan's Suzuki Motor Corp. <7269.T> on Friday, reported a 5 percent fall in its monthly vehicles sales in May.

    ($1=55.8900 Indian rupees)

    (The story is corrected to show new facility will raise company's total capacity)

    (Reporting by Indulal PM; Editing by Mike Nesbit)