Japan's Toyota Motor said on April 20, it plans to spend about 1.4 trillion yen (12 billion dollars) on plants and equipment in the year to March 2007, with the focus on overseas markets.
The figure, which is on a par with the financial year just ended, is aimed at boosting Toyota's global competitiveness.
"We have planned capital investment of 1.4 trillion yen for the year. Further details will likely be available when we announce our past year to March earnings on May 10," said a company spokesman.
Spending on a plant in Texas, which is due to come on-stream by end-2006, will be increased to 850 million dollars from the original 800 million, while in Canada, Toyota will invest up to 700 million dollars on a plant that will start production in 2008, the Nihon Keizai business daily reported.
Toyota will also spend about 128 million dollars in Russia on a plant due to begin operating in December 2007, it added.
Toyota, Japan's largest automaker and ranked number two in the world, is on course to take the top global spot from struggling US giant General Motors.
It has been investing billions of dollars in development and production facilities to boost global production in response to record sales as sky-high oil prices fuel unprecedented interest in its gas-electric hybrid models.
For the financial year just ended, Toyota has previously said it expects to exceed the previous year's record net profit of 1.17 trillion yen and all-time high revenue of 18.55 trillion yen.
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