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US$90 Billion Industry Corridor on Track May 14 - India's US$90 billion industrial corridor is project is going according to schedule despite rising prices of steel and cement Minister of State for Industry Ashwani Kumar told Reuters. The project spanning New Delhi and Mumbai is being built with Japanese help on the lines of the Tokyo-Osaka industrial corridor. It includes high speed rail freight lines, power plants to supply an additional 4,000 megawatt, three new sea ports and six airports, 12 new industrial clusters, 10 logistic parks and agricultural hubs. ![]() Renault-Nissan and India's Bajaj Auto anounce India's second inexpensive car
The budget car, which would cost 100,000 rupees in India, is so far only known as "Codename ULC." The joint venture would be 50 percent owned by Bajaj Auto, 25 percent by Renault and 25 percent by Nissan, a statement said. The ULC will be produced at a factory to be built at Chakan, Maharashtra, in western India. It will eventually produce 400,000 units a year, the two groups said. Mr. Ravikumar, Bajaj Auto's vice president in charge of business development said the car will be exported using the global sales network of Nissan and Renault.
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