Tata Motors to invest Rs 9,000 crore in Tamil Nadu, MoU signed
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Tata Motors will invest Rs 9,000 crore to set up a factory in Tamil Nadu. Tamil Nadu Industries Minister TRB Raja said on Wednesday that the company has signed an MoU with the state government in this regard.
The proposed unit in Ranipet district will generate 5,000 new jobs, an official release here said. Tata Motors Chief Financial Officer (CFO) P B Balaji and Guidance Tamil Nadu Managing Director (MD) and Chief Executive Officer (CEO) V Vishnu shared the documents in the presence of Chief Minister MK Stalin. The king was also present on this occasion.
Raja wrote on the social networking platform ‘X’, “Tata Motors and the Government of Tamil Nadu are preparing for a historic visit. Chief Minister MK Stalin, Tata Motors today signed an MoU with the Government of Tamil Nadu to set up a state-of-the-art vehicle manufacturing unit. There will be an investment of Rs 9000 crore in this and more than 5000 jobs will be created.
“For the first time, Tamil Nadu has attracted two large vehicle manufacturing investments within a period of just two months,” he said in another post. The state government has received the second major investment from Vietnamese company Vinfast. The company has committed to invest Rs 16,000 crore for an electric vehicle manufacturing unit in the southern district of Thoothukudi.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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