Peugeot plans major investment in India

Europe’s second largest automobile maker PSA Peugeot Citroen (Peugeot) has decided to set up an integrated automobile project near the Tamil Nadu state capital at an outlay of Rs4,000 crore to roll out 300,000 cars per annum.After evaluating sites in various states, Peugeot - the sixth largest auto-maker in the world - has selected a site near Sriperumbudur near here, according to a statement issued here by the state government.The French auto major is eager to establish a car manufacturing facility with an initial capacity of 300,000 cars per annum to supply to Indian and overseas markets. From / Gulf Today