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Rediff.com  » Business » TVS to set up unit in Colombia

TVS to set up unit in Colombia

Last updated on: April 28, 2006 18:56 IST

Chennai-based two wheeler major TVS Motor Co on Friday said it would set up a motorcycle assembly plant in Colombia through a joint venture company with a local partner.

"We plan to enter into a joint venture with a Colombian partner for setting up an asembly plant in that country," a company official said from Chennai.

He, however, declined to comment on the investments planned as "TVS would be a minority partner" in the JV. "The details are being worked at the moment," he added when asked about the capacity of the plant and the motorcycle model that are proposed to be assembled in the new plant.

The Colombian plant would be the second overseas facility for TVS after Indonesia. TVS had last year announced plans for setting up a manufacturing facility in Indonesia, with an initial capacity to produce 1.2 lakh two-wheelers a year at an investment of $50 million.

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