The report suggested Maruti Suzuki India will set up a 100-acre auto component park for its suppliers at Manesar, Delhi. The Foreign Investment Promotion board would soon take up the proposal of a Rs 182.16 crore joint venture between Futuba Industrial Company and Maruti Suzuki, it added.
Reportedly, Maruti will hold a 49% stake in the joint venture. This will be Futuba’s first project outside Japan.
Meanwhile, the Registrar of Companies has approved the name change of Maruti Udyog to Maruti Suzuki India with effect from 17 September 2007. The Suzuki tag will help Maruti in global markets when the company launches a models for export.