New Delhi, June 28 (PTI) Global auto component major Cummins today said it will invest USD 300 million to set up four facilities, including an engine manufacturing unit, in India over the next five years.
The company has acquired 300 acres of land at Phaltan in Maharashtra to set up the units.
“We will set up four factories in Phaltan and the construction is underway. In the next five years we will invest USD 300 million for the development of these facilities,” Cummins Managing Director (India Area Business Organisation) Anant Talaulicar told reporters on the sidelines of a Society of Indian Automobile Manufacturers (SIAM) summit here.
The company will set up an engine manufacturing facility with its joint venture partner Tata. It will start with an initial capacity of 60,000 units by the end of this financial year, he added.