COMPANIES

No Data Found

NEWS

No Data Found
Advertisement
Tamil Nadu CM MK Stalin lays foundation stone for Tata Motors' manufacturing plant in Ranipet district

Tamil Nadu CM MK Stalin lays foundation stone for Tata Motors' manufacturing plant in Ranipet district

The plant to be constructed at an estimated cost of Rs 9,000 crore will manufacture Jaguar and Land Rover cars and will provide employment to 5,000 people. This will be Tata Motors’s second plant in South India, after Dharwad in Karnataka. 

Business Today Desk
Business Today Desk
  • Updated Sep 28, 2024 3:50 PM IST
Tamil Nadu CM MK Stalin lays foundation stone for Tata Motors' manufacturing plant in Ranipet districtThe foundation stone was laid by CM Stalin in a ceremony attended by Tata Sons Chairman N Chandrasekaran and state minister for industries TRB Rajaa and other dignitaries.

Tamil Nadu Chief Minister MK Stalin on September 28 laid the foundation stone for a Tata Motors plant manufacturing plant at SIPCOT complex in Panappakkam (Ranipet district). The plant to be constructed at an estimated cost of Rs 9,000 crore will manufacture Jaguar and Land Rover cars and will provide employment to 5,000 people. 

Advertisement

Related Articles

The foundation stone was laid by CM Stalin in a ceremony attended by Tata Sons Chairman N Chandrasekaran and state minister for industries TRB Rajaa.

Speaking on the occasion, Stalin expressed joy over Tata Motors’ plan to set up a manufacturing facility in TN. 

“Tamil Nadu is the first investment destination not only for big companies that operate in India but also for multinational corporations. We are delighted with the presence of Chandrasekaran in this event. Hailing from Namakkal district and leading a globally renowned company, he is a pride for the State,” Stalin said. 

The proposed plant, part of a memorandum of understanding (MoU) signed between Tata Motors and the Tamil Nadu government, is likely to have a minimum capacity of 200,000 units in its first phase. This will be Tata Motors’s second plant in South India, after Dharwad in Karnataka. 

Advertisement

Besides Tata Motors-Jaguar Land Rover, automaker Ford Motor Company also recently announced plans to set up a manufacturing unit in Tamil Nadu, which would help create 2,500-3,000 new jobs in the next few years. 

The company has submitted a Letter of Intent (LOI) to the Government of Tamil Nadu in India, outlining Ford’s intention to utilize the Chennai plant for manufacturing for export. 

On February 25, Tamil Nadu Chief Minister MK Stalin laid the foundation stone for the electric vehicle car and battery manufacturing facility of VinFast Auto Ltd, which has earmarked investments to the tune of Rs 16,000 crore in the state. 

The Vietnam-based EV maker had signed a memorandum of understanding with the Government of Tamil Nadu for the plant during the maiden edition of the Global Investors Meet by the DMK government in January. 

Advertisement

(With inputs from PTI)

Published on: Sep 28, 2024 12:36 PM IST
    Post a comment0