Rajkot-based Atul Auto (AAL) plans to set up a three-wheeler manufacturing plant in a southern state in the next two-years, a top company official said.

The investment in the proposed plant will be Rs 60 crore, he said.

"Demand for our three-wheelers is increasing in the country. To cater to this demand, we plan to set up our second plant in a southern state in the next two-years," Atul Auto's Director, Vijay Kedia, said.

AAL currently manufactures and markets 16 models in the domestic market. The BSE-listed company's only plant is located in Rajkot, Gujarat.

"Our present capacity is 24,000 units per year. We plan to double our capacity by setting up the new plant in two years," Kedia said.

Two new launches are slated for launch by this year end, he said. These would be the rare engine CNG and LPG, he said.

Source: PTI