India’s major exporter of iron ore, Sesa Goa has announced its plans to pump Rs 4 billion in the coming two fiscals, for the construction of mines and infrastructure. The company is also keeping its investment plans intact.

According to the sources, the conglomerate also intends to exploit the fall in prices of mining assets and acquire iron ore mines in India and abroad.

The sources further revealed that the company is also confident about it’s 30 percent growth target for output in the current financial fiscal .year.

Ford India Pvt. Ltd announced an investment of $500 million in India and introduction of a small car by year 2010. Ford, in India sells Ikon, Fusion and Fiesta cars, and the Endeavor sports-utility vehicle.

Michael Boneham, president of Ford India Pvt. Ltd. Said, "The Credit crunch and the lack of confidence has affected in the short-term." Mr. Boneham further added that the plans for new models of Ikon are on track despite the difficulties.

Tata Motors, one of the largest automobile manufacturer in India, has announced closing of the Jamshedpur plant owing to a demand slump. A company spokesperson said, "About 95 per cent of commercial vehicles are purchased through financing. While we do not declare production rates, unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases."

Hyundai Motor India Ltd. (HMIL) launched the i20 cars in the European market. These were premiered at the Paris Motor Show last month. The company has dispatched a consignment of 2,820 cars from the Chennai port for Europe. 

i20s are very sophisticated new generation vehicles of Hyundai. These are designed at its Russelsheim design center in Germany. It is designed to fit in the European environment and pollution norms. The car will be available in 1.2 litre, 1.4 liter and 1.6 liter variants and will be powered by both diesel and petrol engines.

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