Tata Motors Ink Mou with Tamil Nadu govt for Manufacturing Plant By CIOTechOutlook Team

Tata Motors Ink Mou with Tamil Nadu govt for Manufacturing Plant

CIOTechOutlook Team | Thursday, 14 March 2024, 04:43 IST

Tata Motors and the Tamil Nadu Government have marked a Memorandum of Understanding (MoU) to construct a manufacturing plant with a speculation of Rs 9,000 crore throughout the following five years, the organization said. The alliance further reinforces employment generation in the state with a committed 5,000 positions.

The declaration comes after Vietnamese electric vehicle maker VinFast started constructing a plant in the southern state, denoting the subsequent auto manufacturing venture inside a range of only 2 months. Dr T R B Rajaa, Tamil Nadu's Minister of industries likewise took to X and informed about the super undertaking and said that the state has turned into a go to speculation center and is headed to a prosperous future.

"Over the past couple of years, Tamil Nadu has hit the fast lane and become the ultimate hub for investments, showcasing our Chief Minister's dedication to fostering top-tier employment for our vibrant youth and amplifying our industrial prowess. We're not just building factories; we're engineering dreams and accelerating towards a brighter, more prosperous future!" he said.

The MoU was traded within the sight of the Chief Minister of Tamil Nadu, M.K. Stalin. It was endorsed between V Vishnu, IAS, Managing Director & CEO, Direction, and PB Balaji, Group CFO, Tata Motors.

The Minister for Industries Dr. TRB Rajaa, the Secretary of Enterprises, Investment Promotion & Commerce Department Arun Roy, IAS, and senior authorities of TATA Motors Group were likewise present, the automobile company said.

" 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," it further said.