Maruti acquires additional 500 acres land in Gujarat

Car-maker Maruti has been given an additional 500 acres of land in Gujarat. The company already has 640 acres of land in Mehsana. The new land acquired will be used to expand its base in the state, reports CNBC-TV18's Ronojoy Banerjee.

Also read: Jai Bala positive on M&M, Maruti Suzuki

A few months ago the company had approached the government of Gujarat to give it more land. Originally, when it had entered negotiations with the state government, Maruti wanted 1,500 acres of land. However, what it only got was about 640 acres, which it felt would not be enough for the company to carry out its expansionist activities.

The new land that they have acquired is about 18 kilometers away from the previous land. The only difference is this time the company has itself gone ahead and made this acquisition. Out of that 500 acres, about 75 acres were given by the Gujarat government, the rest 425 was acquired by Maruti itself.

The terms of this buyout was about Rs 30 lakhs per acre, which works out to Rs 150 crore. The additional land could be used for either additional capacity utilization or perhaps for a separate vendor's park.

The third possibility which the company is exploring is a diesel plant. This was indicated by Bhargava in an interview. One needs to wait and watch how the company finally utilises it, but certainly the company is banking big on the state of Gujarat.

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