November 03, 2024 02:13 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra Pradesh: Three-year-old girl raped and murdered by relative in Tirupati | Two terrorists killed in encounter with security forces in Kashmir's Anantnag | Bengal: 5-year-old girl raped and murdered in Alipurduar, accused beaten to death by angry villagers | Kashmir: Encounter breaks out between security forces and terrorists in Srinagar | Mumbai Police initiates extradition process to bring back Lawrence Bishnoi's brother Anmol Bishnoi from US
Tata Motors to construct Rs 9,000 cr plant in Tamil Nadu, creating 5,000 jobs
Photo courtesy: twitter.com/TRBRajaa

Tata Motors to construct Rs 9,000 cr plant in Tamil Nadu, creating 5,000 jobs

| @indiablooms | 13 Mar 2024, 09:39 pm

Mumbai: Automotive industry major Tata Motors signed a Memorandum of Understanding (MoU) with the government of Tamil Nadu on Wednesday.

As per the agreement, a manufacturing facility will be set up at an investment of Rs 9,000 crore, with the aim of generating 5,000 job opportunities, both directly and indirectly.

The signing ceremony took place in Chennai, attended by Tamil Nadu Chief Minister MK Stalin and top officials from Tata Motors.

"The agreement with Tata Motors Group signifies another significant step towards enhancing industrial development in Tamil Nadu. The manufacturing plant, planned to be located in Ranipet district (near Vellore), will involve an investment of Rs 9,000 crores and is expected to generate employment opportunities for 5,000 people over the next five years," said a statement from TN CM's office.

"Tamil Nadu, being the second largest economic state in India, is committed to achieving the goal of becoming a trillion-dollar economy by 2030. The industries department of Tamil Nadu government is actively pursuing various initiatives to attract high-value, capital-intensive industries to the state," it added.

Tamil Nadu Industries Minister TRB Rajaa stated that, in accordance with the MoU, Tata Motors would be setting up an advanced vehicle manufacturing facility, with an investment of Rs 9,000 crore, expected to create around 5,000 job opportunities.

Tata Motors, a manufacturer of cars, trucks, and buses, did not specify the types of vehicles to be produced at the new plant.

Tata Motors, in a stock exchange filing, stated that after the MoU signing, teams from Guidance, Tamil Nadu's agency for investment promotion and facilitation, and Tata Motors Group, would collaborate to progress with this opportunity.

Tata Motors is set to open its second plant in South India, succeeding the Dharwad facility in Karnataka.

On February 25, Tamil Nadu Chief Minister MK Stalin laid the foundation of an electric vehicle and battery manufacturing plant for VinFast Auto Ltd.

The Vietnamese company has pledged investments amounting to Rs 16,000 crore in the state.

This commitment was solidified through a memorandum of understanding with the Tamil Nadu government during the initial session of the Global Investors Meet organized by the DMK government in January.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.