My Iris reported that Ashok Leyland has delayed the proposed INR 7 billion to INR 8 billion investment at its facility in Pantnagar and its Chennai plant owing to slowdown in the domestic market.

Ashok Leyland said that have already carried out most of the investments in the current fiscal and these changes in investments are reserved for the next fiscal.

As per report, it proposed new plant at Pantnagar in Uttrakhand had an initial investment outlay of INR 12 billion. The plant, which has a capacity to produce 40,000 vehicles a year has been delayed and is now expected to go on stream next year.

It is learnt that the company has already invested around INR 10 billion to INR 15 billion at its brown field operations in Chennai, Hosur, Bhandara and Alwar in Rajasthan.