Tata Motors to Invest Rs 9,000 Crore in Tamil Nadu Plant

By siliconindia  |  Thursday, 14 March 2024, 09:28:08 AM IST

Tata Motors to Invest Rs 9,000 Crore in Tamil Nadu Plant
In a significant development for Tamil Nadu's industrial landscape, Tata Motors Group has announced plans to establish a vehicle manufacturing plant in the state, with an estimated investment of approximately Rs 9,000 crore. This move, facilitated through a memorandum of understanding (MoU) signed between Tata Motors Group and the Tamil Nadu government, is expected to unfold over a five-year period, potentially generating around 5,000 jobs, both direct and indirect.
The MoU, signed by V. Vishnu, Managing Director & CEO of Guidance, Tamil Nadu's nodal agency for investment promotion, and P.B. Balaji, Group CFO of Tata Motors, received high-level endorsement with Chief Minister M.K. Stalin present during the ceremony.
T.R.B. Rajaa, Tamil Nadu's Industries Minister, expressed his enthusiasm, highlighting the historic nature of attracting two major automobile manufacturing investments within just two months. He emphasized the state's burgeoning reputation as an investment-friendly destination and credited the Chief Minister's commitment to nurturing employment opportunities and bolstering industrial growth.
Rajaa stressed the significance of these investments, portraying them not merely as the construction of factories but as the realization of aspirations and the acceleration towards a prosperous future.
This announcement comes on the heels of another significant investment in the automotive sector, with VinFast Auto India Ltd, a subsidiary of Vietnam’s VinFast group, laying the foundation stone for its electric vehicle factory in Tuticorin. VinFast's investment, estimated at Rs 4,000 crore for the initial phase, underscores Tamil Nadu's growing allure for automotive manufacturers seeking to capitalize on the state's conducive business environment and skilled workforce.
The combined impact of these investments is poised to amplify Tamil Nadu's industrial stature, signaling a promising trajectory towards economic growth and job creation in the region.

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