Scania to invest $30 mln in India plant-exec

Swedish truckmaker Scania will invest an initial 1.5 billion rupees in an assembly plant in southern Bangalore city for on-road vehicles, the head of the company's Indian unit said on Tuesday.

The company, which entered India in 2007 with heavy-duty off-road vehicles, targets sales of 2,000 trucks over the next five years in India, Henrik Fagrenius, managing director of Scania Commercial Vehicles India said.

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Sales of commercial vehicles in India are expected to grow by 18-20 percent in the financial year that ends in March, according to an industry body, far outstripping car and motorcycle sales growth in Asia's third-largest economy.

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