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DAEWOO TO INVEST US$5.35 MLN IN INDIA TO LAUNCH THREE NEW CARS.
NEW DELHI, April 2 Asia Pulse - Daewoo Motors India Ltd (DMIL) has said it will invest an additional US$5.35 million from July 2001 to launch three new car models and will soon start negotiations with financial institutions to reschedule its US$198 million debt.
"The investment of US$5.35 million will be used for meeting the tooling, machinery and equipment costs to achieve 50 per cent localisation within the first two years for the three new cars," DMIL MD and CEO Y C Kim said.
He said DMIL's plant near Delhi was flexible enough to produce the new cars and no major investment will be required on the plant.
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Source: HighBeam Research, DAEWOO TO INVEST US$5.35 MLN IN INDIA TO LAUNCH THREE NEW CARS.