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Volkswagen drives into Maharashtra
Volkswagen has finalised an agreement with the Maharashtra Government to locate its Indian greenfield car manufacturing plant at Chakan in the outskirts of Pune.
Volkswagen has finalised an agreement with the Maharashtra Government to locate its Indian greenfield car manufacturing plant at Chakan in the outskirts of Pune.
Government sources told Business Line on condition of anonymity that the company has been given in-principle approval for 400 acres, adding that it is expected to ink an agreement and announce its plans in a few weeks.
The sources also said that a team of directors from the company has been in several rounds of talks with the State Government for a month now and finally thrashed out an agreement over the weekend.
Under the terms of the agreement, the State Government will hand over the land by November.
"The company wants to action its India plans as quickly as it can and what swung the deal in Maharashtra's favour is the fact that we were able to locate the right land for them and allot it within a month," the sources said. "The company is planning to start production by November 2007."
Under the terms of the agreement, the State Government will hand over the land by November. 
