Yamaha postpones Rs 1,500 crore Chennai plant opening by a year
Yamaha has extended the deadline for setting up its new Rs 1,500 crore plant in Chennai by a year. Hiroyuki Suzuki, Yamaha India CEO and MD, said on Wednesday that the two-wheeler manufacturer has decided to go slow on building the Chennai facility owing to the current economic slowdown. Yamaha had just started work on the facility which will now be operational by 2015.
We have decided to postpone the operation of the Chennai plant by almost a year as the economy is not doing that well. We have to follow the Indian market conditions and adjust our schedule accordingly," said Hiroyuki Suzuki.
He expects the Chennai facility to be fully operational by 2018, with a production capacity of 18 lakh units per annum.