MARUTI SETS FY18 CAPEX AT `4.5K-CR

New Delhi: The country's largest carmaker Maruti Suzuki India has earmarked `4,500 crore capex for the current financial year. “Capex for this year (2017-18) is `4,500 crore,” MSI Chairman R.C. Bhargava said. The amount would be spent on various activities including replacement of machinery, R&D and marketing initiatives, he added. On R&D alone, the company plans to invest in the range of `700-1,000 crore, Bhargava said. Some portion of the capital expenditure or capex could also go towards acquisition of land for expansion of sales and service network, he added. “This (capex) includes a certain provision for land but this can change depending on the progress made. There will be no monetary restrictions on implementing the programme for building the sales and service network,” Mr Bhargava said. MSI had earmarked `3,500 crore capex for last fiscal.