Tata Motors to invest $1.5 Bn in Pune facilities

Monday, 31 March 2008, 12:23 Hrs
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Mumbai: Tata Motors will invest 60 billion ($1.5 billion) in its existing plants in Pune for setting up vehicle testing facilities in the next four to five years, the company announced here on Monday after signing a memorandum of understanding (MoU) with the Maharashtra government.

"This MoU with the Maharashtra government is a step towards realising Tata Motors' plans to augment capacity at Pune plants in order to meet ever-increasing customer expectations and demands both in India and abroad," said Tata Group chairman Ratan Tata.

The investment is expected to generate additional direct employment of 1,500 at full capacity.

Maharashtra Chief Minister Vilasrao Deshmukh said: "The Tata Motors' plants in Pune have contributed significantly to the development of the region in and around Pune. I am happy that Tata Motors will bring in fresh investment in its existing plants and also invest in vehicle testing facilities, both of which will lead to additional employment opportunities."
Source: IANS
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