Piaggio Vehicles, the Indian arm of the $1.3-billion Italian transportation giant Piaggio, is setting up a diesel engine manufacturing plant near Pune. Piaggio would be investing E65 million in a backward integration project, over the next two to three years, which includes establishing the plant.
The Pune facility, with a capacity to produce 2 lakh engines annually, would serve as an international hub to service the requirements of the company, both in the three-wheeler and four-wheeler segments, Piaggio Vehicles CMD Ravi Chopra told reporters here on Thursday.
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Courtesy:economictimes.indiatimes.com
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