Kalyani Group to invest Rs 600 crore in Gujarat

GANDHINAGAR: The Kalyani Group will invest up to Rs 600 crore in its Dholera plant in Gujarat to upgrade the facility that makes armoured fighting vehicles. The investment will create more than 2,500 jobs, the company said.

A memorandum of understanding (MoU0 between the Kalyani Group and the Gujarat government was signed during the summit. “The proposed year of commencement of the investment is 2016,” the conglomerate said. The Kalyani Group has manufacturing footprint across India, Germany, Sweden, and China , and annual turnover of around Rs 12,000 crore, its website says. The market value of its listed entities is around Rs 10,000 crore.