Tata Motors signs MoU with Tamil Nadu govt for manufacturing plant; to invest Rs 9,000 crore over 5 years
Tata Motors and the Tamil Nadu Government have signed a Memorandum of Understanding (MoU) to build a vehicle manufacturing facility with an investment of Rs 9,000 crore over the next five years, the company said in an exchange filing on Wednesday.
The agreement further bolsters employment generation in the state with a dedicated 5,000 jobs.
The announcement comes after Vietnamese electric vehicle maker VinFast commenced building a factory in the southern state, marking the second automobile manufacturing investment within a span of just 2 months.
Tamil Nadu's Minister of Industries, Dr T R B Rajaa, also took to X and informed about the mega project and said that the state has become a go to investment hub and is on its way 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 exchanged in the presence of the Chief Minister of Tamil Nadu, M.K. Stalin. It was signed between V Vishnu, IAS, Managing Director & CEO, Guidance, and PB Balaji, Group CFO, Tata Motors.
The Minister for Industries Dr. TRB Rajaa, the Secretary of Industries, Investment Promotion & Commerce Department Arun Roy, IAS, and senior officials of TATA Motors Group were also present, the
