On Thursday, the US carmaker, Ford reported that they are going to set up a second manufacturing facility in Gujarat. Ford has invested Rs 4,000 crore for this second manufacturing facility, with an installed capacity of 2.4 lakh units annually. The area of this industry would be of 460 acres and the investment would likely to create 5,000 jobs in the state.

In a statement, Ford India said:"Ford will invest approximately Rs 4,000 crore (approximately $1 billion) in the two facilities, which include stamping, body, paint and assembly operations for vehicle manufacturing, as well as machining and assembly operations for engine manufacturing".

It was reported that the Company would start the construction of both the plants, later this year and the plant is scheduled to be in operation by the year of 2014. Ford President and CEO (Asia Pacific and Africa), Joe Hinrichs, has told that Ford has some expansion plans in India, Asia Pacific and Africa, and these plants would help in increasing the growth in the most dynamic regions of the world.

Ford has selected Gujarat for setting up the plant, as it has pro-business environment, infrastructure and access to ports in North Western India and skilled workforce.