Scania to partner India Jay Bharat for buses-paper

MUMBAI, Dec 14 (Reuters) - Swedish commercial vehicle maker Scania (SCVb.ST: Quote, Profile, Research, Stock Buzz) is close to finalising a joint venture with Indian auto parts maker Jay Bharat Maruti Ltd (JYBM.BO: Quote, Profile, Research, Stock Buzz) to make buses in India, the Mint newspaper reported on Friday.

The joint venture will make a range of buses that will be available in the next 18 months, the paper said, citing a source familiar with the development.

Spokesmen for Scania in India and Jay Bharat could not be immediately reached.

Global commercial vehicle makers are getting into India where the market has grown by about a fifth on average annually over the last three years, and is forecast to expand further with improving infrastructure and new emission and safety rules.

Scania sells its heavy-duty trucks in India through a joint venture with engineering firm Larsen & Toubro Ltd (LART.BO: Quote, Profile, Research, Stock Buzz). (Reporting by Devidutta Tripathy; Editing by Ranjit Gangadharan)