BackHero MotoCorp starts construction of Rs420 crore Colombian unit
The firm plans to cater to the South American market through the Colombian plant
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New Delhi: Country’s largest two-wheeler maker Hero MotoCorp Ltd has started setting up of its $70 million (around ₹ 420 crore) manufacturing facility in Colombia, as part of its plans to expand its global footprint to as many as 50 countries by 2020.
The company, which has formed a wholly-owned subsidiary in the country, plans to cater to the South American market through the Colombian plant.
“The commencement of our operations in Colombia is a definitive leap into the next level of our global foray," Hero managing director and chief executive officer Pawan Munjal said in a statement.
“Having already spread our footprint to 19 countries across Asia, Africa and South and Central America, the company is fast setting up a network of manufacturing units across continents to cater to existing and newer markets," he added.
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