Tata Motors is planning to spend Rs 5,200 crore (Rs 52 billion) by March 2007 on new products and capacity expansion.

In its filing with the US Securities and Exchanges Commission, the company said the listing of its American Depository Receipts on the New York Stock Exchange would be completed by the end of September.

The company said it intended to invest around Rs 1,390 crore (Rs 13.90 billion) on capacity expansion at its Indian plants, and around Rs 1,900 crore (Rs 19 billion) for investments in new vehicles.

The balance Rs 1,910 crore (Rs 19.10 billion) would be used in creating R&D and information technology assets and also towards investments in the company's subsidiaries.

Encouraged by its success in acquiring Daewoo, Tata Motors said it was eyeing more acquisitions to expand its reach across the world.

"We will continue to look for other acquisitions with a view towards achieving our goal of becoming a global automotive company," the company said.

Commenting on the global acquisition plans, the company's executive director, finance and corporate affairs, P P Kadle, said: "We continuously get proposals for acquisition opportunities and evaluate them from time to time based on our business strategy. However, it is too premature to comment on any specific plan."

He added that the listing on the NYSE would give the company an international currency for future acquisitions.

"The company's vision is to create a brand that is internationally respected and to have products that are globally competitive," he said.

The global expansion plans also include strategic tie-ups with other automotive manufacturers across the world. The company recently signed an agreement with the Shanghai-based Brilliance China Automotive Holdings to conduct a feasibility study for launching its cars in China.

Tata Motors spread its global presence with an export order for 100,000 cars over five years from MG Rover in the UK. The shipments started in October 2003 and in March 2004 Tata Motors had exported 6,600 cars to Rover.

The capital expenditure programme will be funded mainly through internal resources and funds raised through convertible note issues in July 2003 and April 2004 and the conversion of warrants pursuant to its December 2002 rights issue of convertible and non-convertible debentures.

The investments planned between April 2004 and March 2007 are substantial considering that the company spent only Rs 530 crore (Rs 5.30 billion) between April 2002 and March 2004.

While automotive operations accounted for Rs 428.85 crore (Rs 4.288 billion) of this expenditure, Rs 102.14 crore (Rs billion) was incurred in other operations. The company also invested Rs 246.25 crore (Rs 2.462 billion) in 2003-04 for acquiring Daewoo Commercial Vehicle Co Ltd, now named Tata Daewoo Commercial Vehicle Co Ltd, in South Korea.

In 2003-04, the company's domestic market shares in passenger cars and the utility vehicles business were 15.5 per cent and 22 per cent, respectively.

Tata Motors continues to be the market leader in medium and heavy commercial vehicles in India, with a share of 64 per cent in 2003-04.