TATA Motors inks MoU, to set up vehicle manufacturing plant in TN with Rs 9,000 cr investment
13-Mar-2024 11:02 PM 4535
Chennai, Mar 13 (Reporter) In a landmark move one of the big ticket invetments,Tata Motors on Wednesday signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to set up a massive vehicle manufacturing facility involving an investment of Rs 9,000 crores spread over five years. The new facility, which will provide over 5,000 jobs, will come up in Ranipet district. The MoU was signed in the presence of Chief Minister M.K.Stalin at his camp office between Guidance Tamil Nadu, the nodal agency for attracting investments into the State, and TATA Motors officials. Tamil Nadu Industries Minister TRB Raaja was also present. Later, Mr Stalin in a post on X tonight said "in a landmark move, Tata Motors has inked an MoU with the Government of Tamil Nadu to establish a vehicle manufacturing facility, investing Rs. 9000 crores and creating over 5000 jobs." "With this investment, Tamil Nadu further solidifies its position as the unrivaled automobile capital of India, reminiscent of the transformative impact of Hyundai's investment during Kalaignar's (former Chief Minister M.Karunanidhi's) tenure", he added...////...
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