The Chief Minister of Gujarat, Anandiben Patel, laid the foundation stone for Suzuki group's Gujarat vehicle manufacturing plant here Wednesday. The Suzuki Group will set up three plants at Hansalpur with a total annual capacity of 750,000 vehicles. The first plant is scheduled to start production in mid-2017. It is being set up at an investment of about Rs 30 billion, and will have an annual capacity of 250,000 units.

The vehicles manufactured at these facilities will be supplied exclusively to Maruti Suzuki India (MSIL) and support MSIL’s objective of reaching annual sales of two million units in the medium term.

Speaking on the occasion, Osamu Suzuki said, ''For the Suzuki group, setting up of this new manufacturing facility in Gujarat is the start of a new era. Under the ''Make in India'' program proposed by the Prime Minister H.E. Narendra Modi, we will set up a state-of-the-art production plant here in Gujarat, with high focus on productivity and efficiency.''

Reaching out to the thousands of local people present at the ceremony, Suzuki said, ''We want to manufacture vehicles together with you, which we can provide for the domestic and global markets. Your support and cooperation will be greatly appreciated.''

He added, ''Thanks to this project, many more Japanese people will travel to Gujarat. Let us deepen friendship and mutual understanding between India and Japan.''

The campus, spread over 640 acres, will also have an integrated suppliers' park.

Shares of the company declined Rs 14.40, or 0.39%, to trade at Rs 3,710.35 at the BSE (10.14 a.m., Thursday).