Peugeot officials deny rumors of TN as final location for its plant

After so many rumors being heard about the finalization of land for the Peugeot Citroen, officials asserted yesterday that the company which is making its return back to India after 10 years will not take any decision in hurry. The company has not yet finalized the land. It is not confirmed that which state is going to be selected for the setup of Peugeot plant for the manufacturing facility in India.

Three states namely Tamilnadu, Gujarat and Andhra Pradesh are the states for which discussions are going on. Officials after the meeting with state delegation led by the Chief Minister Mr. Narendra Modi, minister of state for industries Saurabh Patel as well as officials of industries and finance department in Gandhinagar said to the reporters that they don’t know where these rumors came from that they had zeroed in on Sri Perembadur in Tamilnadu for its plant.

Gitesh Gadhiya, senior MD of the UK-based Blackstone group, and one of the four member Peugeot delegation that met the state delegation said that it will take them few months to finalize the land. Gujarat is only the second state they had visited. He also added that the state of Gujarat has every facility they would need for the manufacturing of units.

The delegation from the French car maker Peugeot was led by Gregoire Olivier, CEO of Asian operations of PSA Peugeot Citroen, with other three members from the company. The company earlier this year announced that they are willing to launch a mid-sized sedan car. They did not disclose anything regarding period at which this sedan will be launched.

The CEO said that India will surely help them to increase their market share in coming time. It’s for sure that the company will have to keep in mind the price and other facilities that they would have to provide in this competitive market of today.