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India's Tata Motors to invest $1.5 billion over 4-5 yrs

MUMBAI
Mon Mar 31, 2008 2:05am EDT

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A combo of pictures shows the logos of carmakers Tata Motors of India (L), Jaguar (top R) and Land Rover (bottom R) during the first media day of the 78th Geneva Car Show March 4, 2008. REUTERS/Denis Balibouse/Arnd Wiegmann

MUMBAI (Reuters) - Tata Motors Ltd (TAMO.BO), India's top vehicle maker, will invest 60 billion rupees ($1.5 billion) to expand manufacturing capacities over four to five years, Managing Director Ravi Kant said at a news conference on Monday.

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Tata Motors, which last week announced a $2.3 billion deal to buy Jaguar and Land Rover from Ford Motor Co (F.N) and will start selling the low-priced Nano later in the year, has announced it plans to raise $4 billion for its local and overseas plans.

($1=39.8 rupees)

(Reporting by Rina Chandran; Editing by John Mair)
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