Ranipet (Tamil Nadu): Tamil Nadu Chief Minister M K Stalin on Saturday laid the foundation stone for a new manufacturing facility of auto major Tata Motors here entailing investment of Rs 9,000 crore.
The ground breaking ceremony was held at Panapakkam in this district, about 115 km from Chennai. The facility is expected to generate 5,000 new jobs.
Besides the CM, senior DMK Ministers Durai Murugan, TRB Rajaa, Chief Secretary N Muruganandam, along with Tata Sons Ltd Chairman N Chandrasekaran participated in the ground breaking ceremony.
In March, Tata Motors announced that it signed a contract with the Tamil Nadu government for a Rs 9,000-crore manufacturing plant, which is expected to create 5,000 jobs.
Tata Motors is the second automobile company in recent months to partner with Tamil Nadu.
In February, Stalin laid the stone of the electric vehicle and battery manufacturing facility of VinFast Auto Ltd, a Vietnamese electric vehicle company, which earmarked Rs 16,000 crore for investment in the state.
On March 4, Tata Motors approved the demerger of its business into two separate units: commercial vehicles (CV) business and passenger vehicles (PV) business. PVs include electric vehicles (EVs) and Jaguar Land Rover (JLR).
This will be the automobile majors’ second plant in South India. The country’s leading electric vehicle manufacturer already has a facility in neighbouring Karnataka’s Dharwad.
On September 13, American Ford Motor said it planned to restart manufacturing plant in Tamil Nadu for exports. The announcement to reopen the facility in Maraimalai Nagar came during Stalin’s visit to the United States and three years after the company exited India.
