Honda may spend $840 million to overhaul flood-hit factory in Thailand

Honda Motor, Japan's No 3 car producer, will completely overhaul its flood-hit factory in Thailand in a project that could cost more than ¥50 billion (S$840.3 million).

Thailand's worst floods in half a century late last year hit Honda the hardest among Japanese automakers, with its 240,000-cars-a-year plant in the Ayutthaya Province in central Thailand submerged under water.

Refurbishing the flood-hit factory will almost be the equivalent of building a plant from scratch but they may receive payment from insurers, which are still assessing damage at the factory, as early as in the current financial year to March, to help lessen their financial burden to a certain extent.

ORIGINAL SOURCE
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