German automotive firm Robert Bosch on Monday announced an investment of Rs 1,000 crore (Rs 10 billion) in the next four years in India and said it would develop common rail direct injection (CRDi) system in the country by 2006.
"We will pump in Rs 1,000 crore in our Indian subsidiary Motor Industries Company Ltd (MICO) as part of strategy to focus on Asia to drive global growth. Out of the Rs 1,000 crore, Rs 550 crore has been set aside for the launch of CRDi system in India," Bernd Bohr, Robert Bosch Gmbh chairman (automotive group), told a news conference in Bangalore.
The CRDi system will be developed by 2006 at MICO's Bangalore and Nashik plant.
The 36.4 billon euro Bosch holds 60.55 per cent stake in MICO while the rest is with the public. At present, MICO has four plants in the country -- two in Bangalore and one each in Nashik and Jaipur.
Bosch would transfer global automotive technologies to MICO to enhance technological sophistication of its customers in India who included global and Indian original equipment manufacturers (OEMs), he said.
