TN signs Rs 5,700 cr MoUs with 5 auto firms
15 May 2012 3:55 AM GMT
As part of efforts to attract more investments in the state, Tamil Nadu government on Monday signed pacts with five automobile majors entailing inflow of at least Rs 5,700 crore that would create 9,530 jobs.
The MoUs with Daimler India Commercial Vehicles Pvt Ltd, India Yamaha Motor Ltd, Ashok Leyland-Nissan Motor Company Ltd, Eicher Motors Ltd and Philips Carbon Black Ltd were signed in the presence of Chief Minister J Jayalalitha.
Making statement in the Assembly, Jayalalitha said German luxury car maker Daimler has decided to double the investments proposed in the state.
‘During the previous (DMK) government Daimler said it will invest Rs 3,000 crore at the time of signing the MoU. But in 2010, it reduced it to Rs 2,000 crore. Now, it has planned to double the investments in the state to Rs 4,000 crore. The MoU was signed on Monday’, she said.
Through this new investments, she said 3,000 direct employments would be made in the plant.
Daimler India manufactures trucks at the 400 acre plant at Oragadam near here. Jayalalitha inaugurated the manufacturing unit in April.
Similarly, two-wheeler giant Yamaha has proposed to make investments of Rs 1,500 crore for the third manufacturing unit in Tamil Nadu spread across 125 acre, Jayalalitha said.
The state government signed MoU with top officials of India Yamaha Motor, she said, adding that with the proposed investments 3,000 new job opportunities would be made and an additional 20,000 indirect employments would be created, she said.
Government also signed a fresh MoU with Hinduja Group flagship Ashok Leyland and Japanese auto major Nissan for setting up a Rs 4,150 crore light commercial vehicle manufacturing plant here, Jayalalitha said.
Though the two companies had signed an agreement with the previous government in 2008 for the project, it did not take off as the land was not allotted. Even some of the requirements made by the company were not met by the previous government, she said.
THE PLAYERS
- Daimler India
- Yamaha Motor
- Ashok Leyland
- Nissan Motor
- Eicher Motor
The MoUs with Daimler India Commercial Vehicles Pvt Ltd, India Yamaha Motor Ltd, Ashok Leyland-Nissan Motor Company Ltd, Eicher Motors Ltd and Philips Carbon Black Ltd were signed in the presence of Chief Minister J Jayalalitha.
Making statement in the Assembly, Jayalalitha said German luxury car maker Daimler has decided to double the investments proposed in the state.
‘During the previous (DMK) government Daimler said it will invest Rs 3,000 crore at the time of signing the MoU. But in 2010, it reduced it to Rs 2,000 crore. Now, it has planned to double the investments in the state to Rs 4,000 crore. The MoU was signed on Monday’, she said.
Through this new investments, she said 3,000 direct employments would be made in the plant.
Daimler India manufactures trucks at the 400 acre plant at Oragadam near here. Jayalalitha inaugurated the manufacturing unit in April.
Similarly, two-wheeler giant Yamaha has proposed to make investments of Rs 1,500 crore for the third manufacturing unit in Tamil Nadu spread across 125 acre, Jayalalitha said.
The state government signed MoU with top officials of India Yamaha Motor, she said, adding that with the proposed investments 3,000 new job opportunities would be made and an additional 20,000 indirect employments would be created, she said.
Government also signed a fresh MoU with Hinduja Group flagship Ashok Leyland and Japanese auto major Nissan for setting up a Rs 4,150 crore light commercial vehicle manufacturing plant here, Jayalalitha said.
Though the two companies had signed an agreement with the previous government in 2008 for the project, it did not take off as the land was not allotted. Even some of the requirements made by the company were not met by the previous government, she said.
THE PLAYERS
- Daimler India
- Yamaha Motor
- Ashok Leyland
- Nissan Motor
- Eicher Motor
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