Deloitte Sets Up Car Manufacturing Deal Between U.S. Firm and Punjab, India
An anonymous car manufacturing company based in United States has called in Deloitte to bring forward its interest to Punjab, India state government, of investing $1 billion to put up a car manufacturing facility in the area, confirmed Punjab Industry Minister Manoranjan Kalia.
The proposed deal was also confirmed by Punjab industry secretary S S Channy, saying that in exchange of the $1 billion worth of investments, the anonymous car manufacturing firm would demand for a 750-acre land area to be used for the manufacturing facility alone and another 150 acres for the ancillary units.
There are 3 major producers in US, capable of taking overseas operation – Chrysler Group, LLC, General Motors Company and Ford Motor Company.
Deloitte is independent auditor of General Motors and Chrysler Group LLC. Ford Motor Co. is major client of PricewaterhouseCoopers.
Punjab state government, however, has warned the car manufacturing company through Deloitte of the possibility that their plan to set up a car manufacturing facility in the region, which is located between India and Pakistan, might be affected by the climate in the area.
The state government has also informed Deloitte of the price per square meter of the available parcel in the Malwa region, located in the western-central part of northern India, and Bathinda, the oldest city in Punjab state located at the north-western part of India.
Deloitte has also been informed of the proposed industrial park at Rajpura for the car plant and the existing rules and regulations for the industry launched in 2009, said Channy.
Punjab has never been reported to have caught key players in the car manufacturing industry, missing its chances of making it to lead the auto components sector, despite various car manufacturing facilities that have sprouted in the region.