Reuters: Private Equity: India's Hero MotoCorp to invest $463 mln in 2 new plants

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India's Hero MotoCorp to invest $463 mln in 2 new plants Jun 4th 2012, 11:02 NEW DELHI, June 4 | Mon Jun 4, 2012 7:02am EDT NEW DELHI, June 4 (Reuters) - Hero MotoCorp, India's biggest two-wheeler manufacturer, will spend 25.75 billion rupees ($463 million) on two new factories to be operational by the second quarter of the next financial year, the automaker's managing director said. The two new plants will take the company's total capacity to above 9 million vehicles from 7 million currently, Pawan Munjal said. ($1 = 55.5400 Indian rupees) (Reporting by Anurag Kotoky; Editing by Aradhana Aravindan)

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