Tata Motors to build Rs 9,000-cr plant in TN

Tata Motors has signed an MoU with the Tamil Nadu government on March 13 to set up a manufacturing plant at an investment of Rs 9,000 crore and create 5,000 jobs (direct and indirect). Tamil Nadu CM MK Stalin and senior officials of Tata Motors were present in Chennai for the signing of the MoU. “The agreement with Tata Motors Group signifies another significant step towards enhancing industrial development in Tamil Nadu. The manufacturing plant, planned to be located in Ranipet district (near Vellore), will involve an investment of Rs 9,000 crores and is expected to generate employment opportunities for 5,000 people over the next five years” said a statement from TN CM’s office. “Tamil Nadu, being the second largest economic state in India, is committed to achieving the goal of becoming a trillion-dollar economy by 2030. The industries department of Tamil Nadu government is actively pursuing various initiatives to attract high-value, capital-intensive industries to the state”, it adds. Tamil Nadu Industries Minister TRB Rajaa said, “According to the MoU, Tata Motors will establish a cutting-edge vehicle manufacturing facility, committing an investment of Rs 9,000 crore and generating up to 5,000 jobs.” Tata Motors, which makes cars, trucks and buses, did not specify what vehicles it would make at the new plant.