India's Royal Enfield to invest over $232 million in new manufacturing plant

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May 7 (Reuters) - Indian bike maker Royal Enfield plans to invest about 22 billion rupees ($232.24 million) to set up a manufacturing plant in the southern state of Andhra Pradesh, it said on Thursday.

  • The Eicher Motors EICH.NS unit will establish the facility in two phases, with the first phase expected to be completed by 2029, and the second slated for 2032.

  • The plant will add around 900,000 units to its current annual capacity of around 1.46 million units, as of end-February.

  • Andhra Pradesh has drawn investments from Alphabet's GOOGL.O Google, Reliance Industries RELI.NS and Adani Group ADEL.NS, among others.

  • Royal Enfield's project is expected to generate roughly 5,000 direct and indirect jobs.

  • The investment marks the bike maker's first major manufacturing expansion outside Tamil Nadu state, the firm said.

($1 = 94.7300 Indian rupees)


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