Tata Motors Group, India’s leading manufacturer of commercial and passenger vehicles has signed a facilitation Memorandum of Understanding (MoU) with the Government of Tamil Nadu to explore setting-up of a vehicle manufacturing facility in the state. The MoU envisages an investment of ~INR 9,000 crores over 5-years and can potentially create up to 5,000 jobs (direct and indirect). Following the signing of this MoU, teams from Guidance, Tamil Nadu’s nodal agency for investment promotion and facilitation and Tata Motors Group will work together to take this opportunity forward.
The MoU was exchanged in the presence of the Hon’ble Chief Minister of Tamil Nadu, Thiru. M.K. Stalin and signed between Mr. V Vishnu, IAS, Managing Director & CEO, Guidance, and Mr. PB Balaji, Group CFO, Tata Motors. The Minister for Industries Dr. TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Mr. Arun Roy IAS, and senior officials of TATA Motors Group were also present.
SOURCE: Tata Motors
